If the comptroller shall find, at any time, that any bond filed with him by a licensee under the provisions of this article is insecure for any reason, or if same has been exhausted, the comptroller shall require an additional bond in the amount of one thousand dollars ($1,000.00) conditioned as provided by this article. If, after ten (10) days’ written notice by the comptroller, any licensee shall fail, neglect or refuse to furnish such additional bond, the license held by such persons shall be forthwith cancelled by the comptroller. Notice of all suits filed against licensee and the surety on his bond shall be given the comptroller at the time of the institution thereof, and notice of the result or outcome of all such suits shall be given the comptroller within ten (10) days after the termination thereof.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.