(1) Every application for an agency license to engage in the private investigative business shall provide to the bureau: (a) the full name and business address of the applicant; (b) one passport-size color photograph of the applicant; (c) the name under which the applicant intends to do business; (d) a statement that the applicant intends to engage in the private investigative business; (e) a verified statement of the applicant's experience and qualifications as provided in Section 53-9-108; and (f) the fee prescribed in Section 53-9-111. (2) Before the issuance or renewal of an agency license, the applicant shall provide to the bureau: (a) a certificate of liability insurance; and (b) a certificate of workers' compensation insurance, if applicable. (3) The liability insurance required by this section shall: (a) protect against liability to third persons; (b) contain a limit of liability in an amount of not less than $500,000; (c) be continuous in form and run concurrently with the license period; and (d) provide for notice to the bureau in the event of cancellation of the liability insurance. (4) (a) The bureau shall cancel a license when it receives notice from the insurer that liability insurance required under Subsection (2) has expired or been canceled. (b) The licensee shall be notified by the bureau when a license has been cancelled under this Subsection (4). (c) The license may be reinstated when the licensee: (i) files proof of liability insurance for the remainder of the license period; and (ii) pays the reinstatement fee prescribed in Section 53-9-111.
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