49 Pa. Code § 36.452 - Amount of surety bond or letter of credit
(a) A registrant who maintains a surety bond
to satisfy the requirements of AMCRA and §
36.451 (relating to requirements
for surety bond or letter of credit) shall maintain a bond in the amount of
$40,000.
(b) A registrant who
maintains a letter of credit to satisfy the requirements of AMCRA and §
36.451 shall maintain a letter of
credit in the amount of $40,000.
(c) The Board may require additional amount
or form of security for the following reasons:
(1) As a penalty for a violation of AMCRA or
this subchapter regarding the nonperformance of services or nonpayment of fees,
or a violation of a similar law or regulation of another
jurisdiction.
(2) A change in a
company's authorization to transact surety business in this Commonwealth or a
change in the financial strength or rating of the issuer of the letter of
credit.
(3) A failure to maintain
the bond or letter of credit in the minimum amount required by AMCRA or this
subchapter, whichever is greater.
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