536.6 Additional bond — available assets.
143 words·~1 min read·
/ia/chapter-536-regulated-loans/536-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. If the superintendent finds at any time that the bond is insecure or exhausted or otherwise of doubtful validity or collectibility, an additional bond to be approved by the superintendent, with one or more sureties and of the character specified in section 536.3, in a sum not to exceed that amount determined pursuant to section 536.3, shall be filed by the licensee within ten days after written demand upon the licensee by the superintendent.
2. Every licensee shall have available at all times for each licensed place of business at least five thousand dollars in assets, either in liquid form or actually in use in the conduct of such business.
[C24, 27, 31, §9437; C35, §9438-f6; C39, §9438.06; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.6]
2008 Acts, ch 1160, §26; 2009 Acts, ch 61, §41, 47