# Utah Code § 70D-3-205: Surety bond requirements

> Utah · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_205

## Section

- **Citation:** Utah Code § 70D-3-205
- **Heading:** Surety bond requirements
- **Jurisdiction:** Utah
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Utah Code / Title 70D / Chapter 70D-3 / § 70D-3-205

## Text

(1) (a) To be licensed under this chapter an individual shall be covered by a surety bond that meets the minimum surety bonding requirements required by rule. (b) If an action is brought against a bond under this chapter, the commissioner may require that another bond be posted. (2) The commissioner shall by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establish minimum surety bonding requirements under this section, except that the requirements shall: (a) reflect the dollar amount of residential mortgage loans originated by a loan originator; and (b) ensure that if in accordance with this chapter a surety bond is posted by an employer or other entity on behalf of an individual, the bond covers the activities of the individual regulated by this chapter.

## Nearby sections

- [Utah Code § 70D-3-101 § 70D-3-101. Title.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_101.md)
- [Utah Code § 70D-3-102 § 70D-3-102. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_102.md)
- [Utah Code § 70D-3-103 § 70D-3-103. General powers and duties of commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_103.md)
- [Utah Code § 70D-3-201 § 70D-3-201. Licensing required -- Exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_201.md)
- [Utah Code § 70D-3-202 § 70D-3-202. Qualifications for licensure.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_202.md)
- [Utah Code § 70D-3-203 § 70D-3-203. Initial licensure procedure.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_203.md)
- [Utah Code § 70D-3-204 § 70D-3-204. Renewal of license.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_204.md)
- [Utah Code § 70D-3-205 § 70D-3-205. Surety bond requirements.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_205.md)
- [Utah Code § 70D-3-206 § 70D-3-206. Challenging information in the nationwide database.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_206.md)
- [Utah Code § 70D-3-301 § 70D-3-301. Prelicensing education.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_301.md)
- [Utah Code § 70D-3-302 § 70D-3-302. Examination.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_302.md)
- [Utah Code § 70D-3-303 § 70D-3-303. Continuing education.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_303.md)
- [Utah Code § 70D-3-401 § 70D-3-401. Record requirements -- Reports of condition.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_401.md)
- [Utah Code § 70D-3-402 § 70D-3-402. Prohibited acts.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_402.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_205. Check the current official text before relying on it. Not legal advice.