Bond, letter of credit, or certificate of deposit -- Not required of agent if obtained by organization.
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(1) If a credit services organization has obtained a bond, letter of credit, or certificate of deposit as set forth in Subsection 13-21-3(1) a salesperson, agent, or representative who sells the services of that organization is not required to post his own separate bond, letter of credit, or certificate of deposit.
(2) As used in this section, a person is not a salesperson, agent, or representative of a credit services organization unless:
(a) the person does business under the same name as the credit services organization; or
(b) the credit services organization and the issuer of the bond or letter of credit certify in writing that the bond or letter of credit covers the person.