SECTION 85:20-3-3. Surety bond 1

  If the Permittee elects to post a surety bond in lieu of making remittances to a trust fund, the Permittee shall submit Quarterly Reports to the State Banking Board in the same form and in the same manner as the Monthly Report described in 85:20-3-4. If at any time the Quarterly Report shows outstanding liabilities which exceed the amount of the surety bond posed, the Permittee shall be so notified by the Department and shall, within ten (10) days following notification, post an additional or amended bond sufficient in size to satisfy the provisions of 8 O.S. Section 307.

Note

EDITOR’S NOTE: See Editor's Note at beginning of this Chapter.