Section 53F-6-403 - Qualifying providers(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.(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)(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.(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:(i) Section 53F-6-408 regarding eligible schools; or(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: (a) pay the partial payment before the beginning of the school year in which the scholarship funds are awarded; and(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: (a) the qualifying provider shall remit the partial payment described in Subsection (4)(a) to the program manager; and(b) the program manager shall credit the remitted partial payment to the scholarship student's scholarship account.Added by Chapter 1, 2023 General Session ,§ 5, eff. 5/3/2023.