38-11-302 - Effective date and term of registration -- Penalty for failure to pay assessments -- Reinstatement.
38-11-302. Effective date and term of registration -- Penalty for failure to payassessments -- Reinstatement.
(1) (a) A registration as a qualified beneficiary under this chapter is effective on the datethe division receives the initial assessment of the qualified beneficiary.
(b) A registrant shall be required to renew the registrant's registration upon imposition ofa special assessment under Subsection 38-11-206(1).
(2) A registration automatically expires if a registrant fails to renew the registrant'sregistration as required under Subsection (1).
(3) The division shall notify a qualified beneficiary in accordance with proceduresestablished by rule when renewal of registration is required in connection with a specialassessment.
(4) The license renewal notice to a contractor shall notify the licensee that failure torenew the license will result in automatic expiration of the licensee's registration as a qualifiedbeneficiary and of the limitations set forth in Subsection (6) on qualified beneficiaries whoseregistration has expired to make a claim upon the fund.
(5) Registration may be reinstated by:
(a) submitting an application for reinstatement in a form prescribed by the division;
(b) paying a reinstatement fee determined by the division under Section 63J-1-504; and
(c) paying all unpaid assessments that were assessed during the period of the person'sregistration and all assessments made upon qualified beneficiaries during the period theapplicant's registration was expired.
(6) (a) A qualified beneficiary whose registration expires loses all rights to make a claimupon the fund or receive compensation from the fund resulting from providing qualified serviceduring the period of expiration.
(b) Except as provided by Section 58-55-401, a qualified beneficiary whose registrationexpires may make a claim upon the fund or receive compensation from the fund for qualifiedservices provided during the period the qualified beneficiary was part of the fund.
Amended by Chapter 183, 2009 General Session