The amount of any bond or other security required under section 22-239 shall be at least equal to the average monthly value of the total amount of milk so received or purchased by such dealer during the twelve-month period preceding the filing of the bond or other security and shall be filed within ten days after notice from the commissioner of the requirement. In any case in which the dealer did not receive or purchase milk from producers during at least six months of the year preceding such requirement, the commissioner shall determine the amount of the bond or other security based on current receipts or purchases. The amount of the bond or other security so required may be revised within six months after the filing thereof.

(1949 Rev., S. 3151; 1969, P.A. 22; P.A. 86-168, S. 3, 6; P.A. 91-312, S. 37.)

History: 1969 act required that bonds not exceed triple, rather than double, the value of total amount of milk received or purchased by dealer during any one month of preceding year; P.A. 86-168 replaced prior provisions which had limited bond amount to not more than triple the value of milk received or estimated to be received and authorized acceptance of security in form other than a bond; P.A. 91-312 provided that the amount of the bond or other security “required under section 22-239” shall be at least equal to the “average monthly” value of the total amount of milk received or purchased during 12-month period preceding the filing of the bond or other security rather than the value of the total amount of milk received or purchased during “any six-week period of the year” preceding such filing.