bond. (1) A person may maintain an action against a dealer, crusher, or body shop on the corporate surety bond if: (a) the person suffers a loss or damage because of: (i) fraud; (ii) fraudulent representation; or (iii) a violation of Section 41-3-210; and (b) the loss or damage results from the action of: (i) a licensed dealer; (ii) a licensed dealer's salesperson acting on behalf of the dealer or within the scope of the salesperson's employment; (iii) a licensed crusher; or (iv) a body shop. (2) Successive recovery against a surety on a bond is permitted, but the total aggregate liability on the bond to all persons making claims, regardless of the number of claimants or the number of years a bond remains in force, may not exceed the amount of the bond. (3) A cause of action may not be maintained against any surety under any bond required under this chapter except as provided in Section 41-3-205.
‹ Prev All Utah sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.