Esheria Esheria Statutes
Ask AI Sign in

United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-25-204, 2015

A person applying for a license under this chapter must file a written application, pay the required original license fee, and submit a surety bond.

Source excerpt

application contentsapplication requirementsbond cancellationbond maintenancebond requirementlicense application
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 2015
Dates
Enacted 2015
More statute details
Dates
Enacted 2015
On this page

Professional statute overview

Enactment structure, operative effect and source provenance

Official source

01

Purpose and legislative effect

“A person applying for a license under this chapter must file a written application, pay the required original license fee, and submit a surety bond.”

Use this record to locate individual provisions, understand the instrument’s recorded structure, and move from a research summary to the exact source text.

02

How the instrument operates

  1. 01

    Start with the recorded version

    Enacted 2015. The date shown identifies this source expression and should not be treated as proof that no later change exists.

  2. 02

    Locate the controlling provision

    Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.

  3. 03

    Read conditions and exceptions together

    Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.

  4. 04

    Verify currency and official wording

    Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.

03

Research entry points

Selected provisions across the instrument. Open any row to continue with the exact stored text.

License application -- Bond.

A person applying for a license under this chapter must file a written application, pay the required original license fee, and submit a surety bond.

Section 7-25-204

Subsection 7-25-204(2)

An application must include specified applicant, business, litigation, conviction, agent, contract, payment, location, and other commissioner-required information.

Section 7-25-204(2)

Subsection 7-25-204(2)(d)

a description of the business activities in which the applicant seeks to be engaged in the state;

Section 7-25-204(2)(d)

Subsection 7-25-204(2)(i)

The commissioner may require other information by rule under the Utah Administrative Rulemaking Act.

Section 7-25-204(2)(i)

Subsection 7-25-204(3)(c)

A surety bond stays in effect until it is canceled, and cancellation requires 30 days’ written notice to the commissioner.

Section 7-25-204(3)(c)

04

Source and current-law status

In force source record

Source record from le.utah.gov · Enacted 2015

In force

This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.

For advice, pleadings, or compliance decisions, retain the official source and confirm the current consolidated provision.

Official record

Source-indexed provision map

Sections and provisions

Search by section, heading, part or exact legal wording. Every result remains linked to the stored source record.

Showing 19 of 19 provisions

Provision 19

Part 7-25-2

part 7-25-2 Licensing

§ 7-25-204License application -- Bond.Provision

Source excerpt

A person applying for a license under this chapter must file a written application, pay the required original license fee, and submit a surety bond.

License application -- Bond. To apply for a license under this chapter, a person shall: submit an application in writing; pay the original license fee required by Section 7-1-401 ; and submit a surety bond in accordance with Subsection (3) . An application shall contain: the exact name of the applicant, the applicant's principal address, any fictitious or trade name used by the applicant in the conduct of its business, and the location of the applicant's business records; the history of the applicant's material litigation and criminal convictions for the seven-year period before the date the application is submitted; a description of the activities conducted by the applicant and a history of operations; a description of the business activities in which the applicant seeks to be engaged in the state; a list identifying the applicant's authorized agents in the state, if any, at the time of the filing of the license application; a sample authorized agent contract, if applicable; a sample form of payment instrument, if applicable; the one or more locations at which the applicant and its authorized agents, if any, propose to conduct the licensed activities in the state; and other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act . An applicant shall submit with an application filed under this chapter a surety bond satisfactory to the commissioner in the minimum sum of $50,000 to reimburse the state for expenses of any kind or nature that the department may incur in connection with an administrative or judicial proceeding against a licensee, former licensee, or seller relating to the issuance or sale of a payment instrument in the state. A licensee shall maintain a surety bond meeting the requirements of Subsection (3)(a) for three years after the licensee ceases money transmission operations in the state. Except that the commissioner may permit the surety bond to be reduced or eliminated before the end of the three-year period to the extent that the amount of the licensee's payment instruments outstanding in this state are reduced. A surety bond shall remain in effect until cancellation, which may occur only after 30 days' written notice to the commissioner. Cancellation may not affect liability incurred or accrued during that period.
Section 7-25-204Verify source
§ 7-25-204(1)Subsection 7-25-204(1)Provision

Source excerpt

To apply for a license under this chapter, a person shall: submit an application in writing; pay the original license fee required by Section 7-1-401 ; and submit a surety bond in accordance with Subsection (3) .

To apply for a license under this chapter, a person shall: submit an application in writing; pay the original license fee required by Section 7-1-401 ; and submit a surety bond in accordance with Subsection (3) .
Section 7-25-204(1)Verify source
§ 7-25-204(1)(a)Subsection 7-25-204(1)(a)Provision

Source excerpt

An application must be submitted in writing.

submit an application in writing;
Section 7-25-204(1)(a)Verify source
§ 7-25-204(1)(b)Subsection 7-25-204(1)(b)Provision

Source excerpt

pay the original license fee required by Section 7-1-401 ; and

pay the original license fee required by Section 7-1-401 ; and
Section 7-25-204(1)(b)Verify source
§ 7-25-204(1)(c)Subsection 7-25-204(1)(c)Provision

Source excerpt

An unspecified actor must submit a surety bond, following Subsection (3).

submit a surety bond in accordance with Subsection (3) .
Section 7-25-204(1)(c)Verify source
§ 7-25-204(2)Subsection 7-25-204(2)Provision

Source excerpt

An application must include specified applicant, business, litigation, conviction, agent, contract, payment, location, and other commissioner-required information.

An application shall contain: the exact name of the applicant, the applicant's principal address, any fictitious or trade name used by the applicant in the conduct of its business, and the location of the applicant's business records; the history of the applicant's material litigation and criminal convictions for the seven-year period before the date the application is submitted; a description of the activities conducted by the applicant and a history of operations; a description of the business activities in which the applicant seeks to be engaged in the state; a list identifying the applicant's authorized agents in the state, if any, at the time of the filing of the license application; a sample authorized agent contract, if applicable; a sample form of payment instrument, if applicable; the one or more locations at which the applicant and its authorized agents, if any, propose to conduct the licensed activities in the state; and other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .
Section 7-25-204(2)Verify source
§ 7-25-204(2)(a)Subsection 7-25-204(2)(a)Provision

Source excerpt

the exact name of the applicant, the applicant's principal address, any fictitious or trade name used by the applicant in the conduct of its business, and the location of the applicant's business records;

the exact name of the applicant, the applicant's principal address, any fictitious or trade name used by the applicant in the conduct of its business, and the location of the applicant's business records;
Section 7-25-204(2)(a)Verify source
§ 7-25-204(2)(b)Subsection 7-25-204(2)(b)Provision

Source excerpt

the history of the applicant's material litigation and criminal convictions for the seven-year period before the date the application is submitted;

the history of the applicant's material litigation and criminal convictions for the seven-year period before the date the application is submitted;
Section 7-25-204(2)(b)Verify source
§ 7-25-204(2)(c)Subsection 7-25-204(2)(c)Provision

Source excerpt

a description of the activities conducted by the applicant and a history of operations;

a description of the activities conducted by the applicant and a history of operations;
Section 7-25-204(2)(c)Verify source
§ 7-25-204(2)(d)Subsection 7-25-204(2)(d)Provision

Source excerpt

a description of the business activities in which the applicant seeks to be engaged in the state;

a description of the business activities in which the applicant seeks to be engaged in the state;
Section 7-25-204(2)(d)Verify source
§ 7-25-204(2)(e)Subsection 7-25-204(2)(e)Provision

Source excerpt

a list identifying the applicant's authorized agents in the state, if any, at the time of the filing of the license application;

a list identifying the applicant's authorized agents in the state, if any, at the time of the filing of the license application;
Section 7-25-204(2)(e)Verify source
§ 7-25-204(2)(f)Subsection 7-25-204(2)(f)Provision

Source excerpt

a sample authorized agent contract, if applicable;

a sample authorized agent contract, if applicable;
Section 7-25-204(2)(f)Verify source
§ 7-25-204(2)(g)Subsection 7-25-204(2)(g)Provision

Source excerpt

a sample form of payment instrument, if applicable;

a sample form of payment instrument, if applicable;
Section 7-25-204(2)(g)Verify source
§ 7-25-204(2)(h)Subsection 7-25-204(2)(h)Provision

Source excerpt

the one or more locations at which the applicant and its authorized agents, if any, propose to conduct the licensed activities in the state; and

the one or more locations at which the applicant and its authorized agents, if any, propose to conduct the licensed activities in the state; and
Section 7-25-204(2)(h)Verify source
§ 7-25-204(2)(i)Subsection 7-25-204(2)(i)Provision

Source excerpt

The commissioner may require other information by rule under the Utah Administrative Rulemaking Act.

other information the commissioner requires by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .
Section 7-25-204(2)(i)Verify source
§ 7-25-204(3)Subsection 7-25-204(3)Provision

Source excerpt

An applicant must file a surety bond of at least $50,000 with the application, and a licensee must keep a compliant bond for three years after stopping money transmission in the state.

An applicant shall submit with an application filed under this chapter a surety bond satisfactory to the commissioner in the minimum sum of $50,000 to reimburse the state for expenses of any kind or nature that the department may incur in connection with an administrative or judicial proceeding against a licensee, former licensee, or seller relating to the issuance or sale of a payment instrument in the state. A licensee shall maintain a surety bond meeting the requirements of Subsection (3)(a) for three years after the licensee ceases money transmission operations in the state. Except that the commissioner may permit the surety bond to be reduced or eliminated before the end of the three-year period to the extent that the amount of the licensee's payment instruments outstanding in this state are reduced. A surety bond shall remain in effect until cancellation, which may occur only after 30 days' written notice to the commissioner. Cancellation may not affect liability incurred or accrued during that period.
Section 7-25-204(3)Verify source
§ 7-25-204(3)(a)Subsection 7-25-204(3)(a)Provision

Source excerpt

An applicant filing an application under this chapter must include a surety bond of at least $50,000, satisfactory to the commissioner.

An applicant shall submit with an application filed under this chapter a surety bond satisfactory to the commissioner in the minimum sum of $50,000 to reimburse the state for expenses of any kind or nature that the department may incur in connection with an administrative or judicial proceeding against a licensee, former licensee, or seller relating to the issuance or sale of a payment instrument in the state.
Section 7-25-204(3)(a)Verify source
§ 7-25-204(3)(b)Subsection 7-25-204(3)(b)Provision

Source excerpt

A licensee must keep a surety bond in place for three years after money transmission operations in the state stop. The commissioner may allow the bond to be reduced or eliminated earlier if the licensee’s outstanding payment instruments in the state are reduced.

A licensee shall maintain a surety bond meeting the requirements of Subsection (3)(a) for three years after the licensee ceases money transmission operations in the state. Except that the commissioner may permit the surety bond to be reduced or eliminated before the end of the three-year period to the extent that the amount of the licensee's payment instruments outstanding in this state are reduced.
Section 7-25-204(3)(b)Verify source
§ 7-25-204(3)(c)Subsection 7-25-204(3)(c)Provision

Source excerpt

A surety bond stays in effect until it is canceled, and cancellation requires 30 days’ written notice to the commissioner.

A surety bond shall remain in effect until cancellation, which may occur only after 30 days' written notice to the commissioner. Cancellation may not affect liability incurred or accrued during that period.
Section 7-25-204(3)(c)Verify source

Legislative relationships

0 referenced instruments

Names are derived from the stored provision headings and citation-enrichment layer. Treat this as a research index and verify each relationship against the source text.

No structured legislative relationships were detected

The statute remains fully searchable by provision. Consult the source text for amendments and cross-references that have not yet been indexed.

Recorded versions and source checkpoint

1 version available in this collection

Current-law checkpoint
  • Undated version · currentEnglish · In force

This relationship view does not by itself establish whether another instrument remains in force.

Check official source

Source-linked research

Ask AI about this statute

The overview, provisions, and source records above are public. Continue in a separate conversation with this statute’s jurisdiction and source version attached.

About this LexChat collection

Statute information is organised from identified legislative sources for professional research. Corrections can be reported to hello@esheria.ai.