R156-56-402. Factory Built Housing Dealer Bonds

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(1) In accordance with Subsection 58-56-16(2)(c), a factory built housing dealer shall provide a registration bond issued by a surety acceptable to the Division in the amount of $50,000. An acceptable surety is one that is listed in the Department of Treasury, Fiscal Service, Circular 570, current revision, entitled "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies".

(2) The coverage of the registration bond shall include losses that may occur as the result of the factory built housing dealer's violation of the unprofessional or unlawful conduct provisions contained in Title 58, Chapters 1 and 56.

                    
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