13-42-114. Bond required -- Substitute.
(1) Instead of the surety bond required by Section, a provider, with the approval of the division and in the amount required by Subsection, may deliver to the division: 13-42-113 (2) an irrevocable letter of credit, issued or confirmed by a bank the division approves, payable on presentation of a certificate by the division stating that the provider or the provider's agent has not complied with this chapter; or bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be: deposited and maintained with a bank the division approves for this purpose; and delivered by the bank to the division on presentation of a certificate by the division stating that the provider or provider's agent has not complied with this chapter.
(2) If a provider furnishes a substitute in accordance with Subsection, Subsections,,, andapply to the substitute. (1) 13-42-113(1) (3) (4) (5)