SECTION 160:30-7-3. Cancellation or termination of bond

Latest version.

Any person who seeks the termination or cancellation of any bond filed or maintained under the Act shall make written application to the Administrator thirty (30) days before the effective date of the termination or cancellation. The statement shall specify the justification for the termination or cancellation of the bond. If the Administrator approves the termination or cancellation of the existing bond, a new bond shall be filed and accepted by the Administrator before the existing bond is terminated or cancelled for the licensee to continue to operate, unless the licensee has been granted an exemption from the bond requirement.

[Source: Added at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99]

                    
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