32B-13-206. Bond for a beer wholesaling license.

221 words·~1 min read·/ut/title-32b/chapter-13/32b-13-206

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

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

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

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

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

(b)conditioned upon a beer wholesaler licensee's faithful compliance with this title and the rules of the commission.

(3)If a surety bond posted by a beer wholesaler licensee under this section is canceled due to a beer wholesaler 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(4)No part of a bond posted under this section may be withdrawn during the period the beer wholesaling license is in effect.

(a)A bond posted under this section by a beer wholesaler licensee may be forfeited if the beer wholesaling license is revoked.

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

Enacted by Chapter 276 , 2010 General Session