§6100-S. Surety bond
Surety bond requirements are governed by this section.
[PL 2023, c. 662, §2 (NEW).]
1.
Security.
An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section.
[PL 2023, c. 662, §2 (NEW).]
2.
Amount.
The amount of the required security is $100,000.
[PL 2023, c. 662, §2 (NEW).]
3.
Exceeding maximum required bond amount.
A licensee may exceed the maximum required bond amount pursuant to section 6100‑T, subsection 1.
[PL 2023, c. 662, §2 (NEW).]
SECTION HISTORY
PL 2023, c. 662, §2 (NEW).