80-4-405. Maximum bond amount.
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/mt/title-80/chapter-4/part-4/80-4-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
80-4-405 . Maximum bond amount. The maximum amount of any public warehouse operator bond may not exceed $1 million and the maximum amount of a commodity dealer bond may not exceed $1 million, except:
(1)any bonds compensating for equity or working capital deficiencies prescribed in parts 5 and 6 of this chapter must be added to the maximum bond amount. If the public warehouse operator is also licensed as a commodity dealer, only one bond amount is required.
(2)if required as part of a commodity warehouse operator's or commodity dealer's license modified by the department pursuant to 80-4-421 .