32B-13-206. Bond for a beer wholesaling license.
(1) A beer wholesaler licensee shall post a cash bond or surety bond in the penal sum of $10,000 payable to the department. A beer wholesaler licensee shall procure and maintain a bond required by this section for as long as the beer wholesaler licensee continues to operate as a beer wholesaler licensee.
(2) A bond posted under this section shall be: in a form approved by the attorney general; and conditioned upon a beer wholesaler licensee's faithful compliance with this title and the rules of the commission.
(3) If a surety bond posted by a beer wholesaler licensee under this section is canceled due to a beer wholesaler licensee's negligence, the department may assess a $300 reinstatement fee.
(4) No part of a bond posted under this section may be withdrawn during the period the beer wholesaling license is in effect.
(5) A bond posted under this section by a beer wholesaler licensee may be forfeited if the beer wholesaling license is revoked. Notwithstanding Subsection, the department may make a claim against a bond posted by a beer wholesaler licensee for money owed the department under this title without the commission first revoking the beer wholesaling license. (5)(a)