Utah § 3d-403 - Security requirements.
Full text of Utah Utah Code § 3d-403 — Security requirements., with citation guidance and answers to common questions.
§ 3d-403. Security requirements.
73-3d-403. Security requirements.
| (1) | As a condition of participating in mediation or arbitration under Section 73-3d-402, a person specified in the executive order declaring a temporary water shortage emergency shall post with the department a corporate surety bond, irrevocable letter of credit, trust fund agreement, or any other security agreement considered reasonable in an amount not less than $100,000. |
| (2) |
The bond or other security posted shall be conditioned upon:
|
| (3) | If the department determines that the conditions of Subsection (2) are not met, the commissioner of the department shall bring an action upon the bond or other security. |
Enacted by Chapter 126, 2023 General Session
Frequently Asked Questions About Utah § 3d-403
What does Utah Code § 3d-403 cover?
Section 3d-403 ("Security requirements.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 3d-403?
A common citation format is "Utah Code § 3d-403" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 3d-403 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.