(1) Before the beginning of the school year immediately following a school year in which a qualifying provider receives scholarship funds equal to or more than $500,000, the qualifying provider shall file with the program manager a surety bond payable to the program manager in an amount equal to the aggregate amount of scholarship funds expected to be received during the school year.
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Terms Used In Utah Code 53F-6-403

  • Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • program: means the scholarship program established in Section 53F-6-402. See Utah Code 53F-6-401
  • Program manager: means an organization that:
         (4)(a) is qualified as tax exempt under Section 501(c)(3), Internal Revenue Code;
         (4)(b) is not affiliated with any international organization;
         (4)(c) does not harvest data for the purpose of reproducing or distributing the data to other entities;
         (4)(d) has no involvement in guiding or directing any curriculum or curriculum standards;
         (4)(e) does not manage or otherwise administer a scholarship under:
              (4)(e)(i) the Carson Smith Scholarship Program established in Section 53F-4-302; or
              (4)(e)(ii) the Carson Smith Opportunity Scholarship Program established in Section 53E-7-402; and
         (4)(f) an agreement with the state board recognizes as a program manager, in accordance with this part. See Utah Code 53F-6-401
  • Qualifying provider: means one of the following entities that is not a public school and is autonomous and not an agent of the state, in accordance with Section 53F-6-406:
         (7)(a) an eligible school that the program manager approves in accordance with Section 53F-6-408; or
         (7)(b) an eligible service provider that the program manager approves in accordance with Section 53F-6-409. See Utah Code 53F-6-401
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Scholarship account: means the account to which a program manager allocates funds for the payment of approved scholarship expenses in accordance with this part. See Utah Code 53F-6-401
  • Scholarship funds: means :
         (11)(a) funds that the Legislature appropriates for the program; and
         (11)(b) interest that scholarship funds accrue. See Utah Code 53F-6-401
  • Scholarship student: means an eligible student, including a home-based scholarship student, for whom the program manager establishes and maintains a scholarship account in accordance with this part. See Utah Code 53F-6-401
(2) If a program manager determines that a qualifying provider has violated a provision of this part, the program manager may interrupt disbursement of or withhold scholarship funds from the qualifying provider.
(3)

     (3)(a) If the program manager determines that a qualifying provider no longer meets the eligibility requirements described in this part, the program manager may withdraw the organization’s approval of the qualifying provider.
     (3)(b) A provider or person that does not have the approval of the program manager in accordance with the following may not accept scholarship funds for services under this part:

          (3)(b)(i) Section 53F-6-408 regarding eligible schools; or
          (3)(b)(ii) Section 53F-6-409 regarding eligible service providers.
(4) If a qualifying provider requires partial payment of tuition or fees before the beginning of the academic year to reserve space for a scholarship student who has been admitted to the qualifying provider, the program manager may:

     (4)(a) pay the partial payment before the beginning of the school year in which the scholarship funds are awarded; and
     (4)(b) deduct the amount of the partial payment from subsequent scholarship fund deposits in an equitable manner that provides the best availability of scholarship funds to the student throughout the remainder of the school year.
(5) If a scholarship student described in Subsection (4)(a) chooses to withdraw from or otherwise not engage with the qualifying provider before the beginning of the school year:

     (5)(a) the qualifying provider shall remit the partial payment described in Subsection (4)(a) to the program manager; and
     (5)(b) the program manager shall credit the remitted partial payment to the scholarship student’s scholarship account.
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