Section 125.1214f. Surety bonds; cancellation.

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f. (1) A surety bond of $10,000.00 or a deposit of $10,000.00 in cash or securities, made payable to the "State of Michigan," on a form prescribed by the department, is required for each retailer location, up to a maximum surety bond or deposit of $100,000.00 for all locations of the same retailer.

(2) If a surety bond is not in effect, then the retailer shall stop all sales activity.

History: 1998 AACS; 2003 AACS; 2008 AACS.

                    
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