§ 3012.
141 words·~1 min read·
/vt/title-23/chapter-27/3012A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 3012. Discharge of surety
Any surety on a bond furnished by a licensee shall be discharged from any liability to the State accruing on the bond after expiration of 60 days from the date the surety filed by mail with the Commissioner a written request to be released and discharged, but the surety shall not be released or discharged from liability already accrued or that shall accrue before the expiration of the 60-day period. The Commissioner, upon receipt of such a request, shall promptly notify by mail the licensee who furnished the bond.
Unless the licensee, prior to the expiration of the 60-day period, files a new bond satisfactory to the Commissioner, the Commissioner shall revoke his or her license. (Added 1981, No. 172 (Adj. Sess.), § 1; amended 2019, No. 149 (Adj. Sess.), § 17, eff. July 13, 2020.)