State directory--Manufacturers--Surety bond--Amount

Before being listed in the state directory of manufacturers and brands permitted to be sold, any tobacco product manufacturer required to place a deposit into a qualified escrow fund pursuant to subdivision 10-50B-7 (2) shall provide a surety bond to the attorney general at least ten days before the beginning of each calendar quarter. The amount of the bond shall be the greater of: (1) The largest required deposit into a qualified escrow fund by the tobacco product manufacturer or the tobacco product manufacturer's predecessor for any of the twelve preceding calendar quarters; or (2) Twenty-five thousand dollars. Source: SL 2020, ch 36 , § 2.