Ga. Comp. R. & Regs. R. 40-30-3-.01 - Dealer Bond
(1)
Before any Dealer in Agricultural Products license is issued, the applicant
shall make and deliver to the Commissioner a surety bond executed by a surety
corporation authorized to transact business in this state and approved by the
Commissioner.
(2) The surety bond
shall be upon a form prescribed or approved by the Commissioner and shall be
conditioned to secure the faithful accounting for and payment to producers or
their agents or representatives of the proceeds of all agricultural products
handled or sold by such dealer.
(4)
Whenever the Commissioner shall determine that a previously approved bond has
for any cause become insufficient, the Commissioner may require an additional
bond or bonds to be given.
(5)
Unless the additional bond or bonds are given within the time fixed by written
demand therefor, or if the bond of a dealer is canceled, the license of such
person shall be immediately revoked by operation of law without notice or
hearing and such person shall be ineligible to reapply for such license for a
period of four years after such revocation.
(6) In lieu of a surety bond, the
Commissioner may accept a cash bond, which shall in all respects be subject to
the same claims and actions as would exist against a surety bond.
Notes
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