The annual license fee for each driver training school licensed under the provisions of this chapter is fifty dollars. Prior to operation, each licensed driver training school also must obtain a corporate surety bond in the amount of ten thousand dollars. The bond must be given to the department and executed by the applicant as principal, and by a corporate surety company authorized to do business in this State as surety. The bond must be conditioned upon the applicant or licensee complying with the statutes applicable to the license and as indemnification for loss or damage suffered by a person having retained services of a driver training school. Licenses issued pursuant to this section expire on June thirtieth of the license year of issue. The proceeds from the sale of driver training school licenses must be placed in the state general fund for the administration and enforcement of this chapter and title.
HISTORY: 1962 Code Section 46-194.2; 1954 (48) 1536; 1993 Act No. 181, Section 1495; 2006 Act No. 328, Section 2, eff January 1, 2007.
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