(1) An application for registration as a provider shall be in a form prescribed by the administrator.

(2) Subject to adjustment of dollar amounts pursuant to Subsection 13-42-132(6), an application for registration as a provider shall be accompanied by: (a) the fee established by the administrator in accordance with Section 63J-1-504; (b) the bond required by Section 13-42-113; (c) identification of all trust accounts subject to Section 13-42-122 and an irrevocable consent authorizing the administrator to review and examine the trust accounts; (d) evidence of insurance in the amount of $250,000: (i) 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; (ii) 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 approved by the administrator; (iii) with a deductible not exceeding $5,000; (iv) payable to the applicant and this state for the benefit of the residents of this state, as their interests may appear; and (v) not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the administrator; (e) a record consenting to the jurisdiction of this state containing: (i) the name, business address, and other contact information of its registered agent in this state for purposes of service of process; or (ii) the appointment of the administrator as agent of the provider for purposes of service of process; and (f) 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.

(a) the fee established by the administrator in accordance with Section 63J-1-504;

(b) the bond required by Section 13-42-113;

(c) identification of all trust accounts subject to Section 13-42-122 and an irrevocable consent authorizing the administrator to review and examine the trust accounts;

(d) evidence of insurance in the amount of $250,000: (i) 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; (ii) 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 approved by the administrator; (iii) with a deductible not exceeding $5,000; (iv) payable to the applicant and this state for the benefit of the residents of this state, as their interests may appear; and (v) not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the administrator;

(i) 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;

(ii) 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 approved by the administrator;

(iii) with a deductible not exceeding $5,000;

(iv) payable to the applicant and this state for the benefit of the residents of this state, as their interests may appear; and

(v) not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the administrator;

(e) a record consenting to the jurisdiction of this state containing: (i) the name, business address, and other contact information of its registered agent in this state for purposes of service of process; or (ii) the appointment of the administrator as agent of the provider for purposes of service of process; and

(i) the name, business address, and other contact information of its registered agent in this state for purposes of service of process; or

(ii) the appointment of the administrator as agent of the provider for purposes of service of process; and

(f) 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) (a) The administrator may waive or reduce the insurance requirement in Subsection (2)(d) if the provider does not: (i) maintain control of a trust account or receive money paid by an individual pursuant to a plan for distribution to creditors; (ii) make payments to creditors on behalf of individuals; (iii) collect fees by means of automatic payment from individuals; and (iv) execute any powers of attorney that may be utilized by the provider to collect fees from or expend funds on behalf of an individual. (b) A waiver or reduction in insurance requirements allowed by the administrator under Subsection (3)(a) shall balance the reduction in risk posed by a provider meeting the stated requirements against any continued need for insurance against employee and director dishonesty.

(a) The administrator may waive or reduce the insurance requirement in Subsection (2)(d) if the provider does not: (i) maintain control of a trust account or receive money paid by an individual pursuant to a plan for distribution to creditors; (ii) make payments to creditors on behalf of individuals; (iii) collect fees by means of automatic payment from individuals; and (iv) execute any powers of attorney that may be utilized by the provider to collect fees from or expend funds on behalf of an individual.

(i) maintain control of a trust account or receive money paid by an individual pursuant to a plan for distribution to creditors;

(ii) make payments to creditors on behalf of individuals;

(iii) collect fees by means of automatic payment from individuals; and

(iv) execute any powers of attorney that may be utilized by the provider to collect fees from or expend funds on behalf of an individual.

(b) A waiver or reduction in insurance requirements allowed by the administrator under Subsection (3)(a) shall balance the reduction in risk posed by a provider meeting the stated requirements against any continued need for insurance against employee and director dishonesty.