1.    Each licensee shall maintain a surety bond in an amount not less than fifty thousand dollars. The surety bond must be in a form prescribed by the commissioner.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

2.    When an action is commenced on a licensee’s bond, the commissioner may require the filing of a new bond.

3.    Immediately upon recovery of any action on the bond, the licensee shall file a new bond.