04 NCAC 03F .0506           REVOCATION OR CANCELLATION OF SURETY BOND

(a)  No later than 30 days after the renewal of its surety bond, a licensee shall file pursuant to Rule .0201(b) of this Subchapter:

(1)           a certificate of continuation of the surety bond required by G.S. 53-208.8; or

(2)           evidence of continued compliance with G.S. 53-208.8(b) which shall consist of a safekeeping receipt received directly from the trustee of securities with a par value equal to the amount of the surety bond in G.S. 53-208.8.

(b)  A licensee shall notify the Commissioner in writing of revocation or cancellation of its surety bond furnished pursuant to G.S. 53-208.8.

 

History Note:        Authority 53-208.8; 53-208.27;

Eff. February 1, 1993;

Amended Eff. November 1, 2013; June 1, 1995.