13-42-105. Application for registration -- Form, fee, and accompanying documents.
(1) An application for registration as a provider shall be in a form the division approves.
(2) Subject to adjustment of dollar amounts in accordance with Subsection, an application for registration as a provider shall be accompanied by: 13-42-132(6) the fee the division establishes in accordance with Section; 63J-1-504 the bond required by Section; 13-42-113 identification of all trust accounts subject to Sectionand an irrevocable consent authorizing the division to review and examine the trust accounts; 13-42-122 evidence of insurance in the amount of $250,000: against the risks of dishonesty, fraud, theft, and other misconduct on the part of the applicant or a director, employee, or agent of the applicant; issued by an insurance company authorized to do business in this state and rated at least A or equivalent by a nationally recognized rating organization the division approves; with a deductible not exceeding $5,000; payable to the applicant and this state for the benefit of the residents of this state, as the applicant's interests may appear; and not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the division; a record consenting to the jurisdiction of this state containing: the name, business address, and other contact information of the applicant's registered agent in this state for purposes of service of process; or the appointment of the division as agent of the provider for purposes of service of process; and if the applicant is organized as a not-for-profit entity or has obtained tax exempt status under the Internal Revenue Code, 26 U.S.C. Sec. 501, evidence of not-for-profit or tax-exempt status, or both.
(3) The division may waive or reduce the insurance requirement in Subsectionif the provider does not: (2)(d) maintain control of a trust account or receive money paid by an individual in accordance with a plan for distribution to creditors; make payments to creditors on behalf of individuals; collect fees by means of automatic payment from individuals; and execute any powers of attorney that may be utilized by the provider to collect fees from or expend funds on behalf of an individual. A waiver or reduction in insurance requirements the division allows under Subsectionshall balance the reduction in risk a provider poses by meeting the requirements of Subsectionagainst any continued need for insurance against employee and director dishonesty. (3)(a) (2)(d)