Section 436.2019. Constant value bond; requirements.

(1) A retail licensee who provides a constant value bond as proof of financial responsibility shall not cancel such bond, except upon 30 days' prior written notice to  the  commission.  Unless   new    proof   of financial responsibility is obtained by the retail licensee and delivered to the commission before the expiration of the 30-day period, the license of that licensee shall be suspended until such time as another acceptable proof of financial responsibility is provided to the commission.

(2) A surety company which has issued a constant value bond  of  not    less than

$50,000.00 as proof of   financial   responsibility     shall     notify     the commission, in writing, not  less  than  30  days   before   termination   or cancellation of the bond.

History: 1988 AACS.