32B-12-206. Bond for liquor warehousing license.

217 words·~1 min read·/ut/title-32b/chapter-12/32b-12-206

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A liquor warehouser licensee shall post a cash bond or surety bond in the penal sum of $10,000 payable to the department.

(b)A liquor warehouser licensee shall procure and maintain the bond required by this section for as long as the liquor warehouser licensee continues to operate as a liquor warehouser licensee.

(2)A bond posted under this section shall be:

(a)in a form approved by the attorney general; and

(b)conditioned upon the liquor warehouser licensee's faithful compliance with this title and the rules of the commission.

(3)If a surety bond posted by a liquor warehouser licensee under this section is canceled due to a liquor warehouser licensee's negligence, the department may assess a $300 reinstatement fee.

(4)No part of a bond posted under this section may be withdrawn during the period the liquor warehousing license is in effect.

(a)A bond posted by a liquor warehouser licensee may be forfeited if the liquor warehousing license is revoked.

(b)Notwithstanding Subsection (5)(a) , the department may make a claim against a bond posted by a liquor warehouser licensee for money owed the department under this title without the commission first revoking the liquor warehousing license.

Enacted by Chapter 276 , 2010 General Session