SECTION 35:10-7-3. Bonds

Latest version.

(a)   Each warehouseman shall furnish the Board with notice of cancellation, termination, or any change of insurance or bond on commodities stored in the warehouse.
(b)   A surety shall provide notice by certified mail to the Department of Agriculture and the principle at least ninety (90) days before a bond is cancelled.
(c)   In no event shall the liability of the surety on any bond required accumulate for more than one year during which the bond is in force.

[Source: Amended at 14 Ok Reg 3699, eff 8-7-97 (emergency); Amended at 15 Ok Reg 2490, eff 6-25-98; Amended at 18 Ok Reg 1439, eff 5-25-01]

                    
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