Section Saf-C 518.08 - Bond(a) Before any appointment shall become effective, each municipal agent shall file a bond with the director as set forth in this section.(b) The bond shall be issued by a surety company authorized to engage in business in the state of New Hampshire.(c) The municipal agent shall be the principal obligor and the state of New Hampshire shall be the obligee on the bond.(d) The bond shall be conditioned upon the municipal agent's prompt payment of all registration fees owed to the division by virtue of their collection by the municipal agent or employee, or by virtue of the municipal agent's or employee's issuance of any vehicle registration.(e) Each municipal agent and its staff shall each be bonded to indemnify the state in case of loss, as set forth in RSA 261:74-g, VI.(f) The amount of the bond(s) shall be: (1) Municipal agent - $10,000;(2) Deputy municipal agent - $10,000; and(3) Each staff member - $5,000.(g) Each bond filed shall be kept in full force and effect by the municipal agent and its staff.(h) The director shall suspend the appointment of any municipal agent, after notice and a hearing, resulting in the determination that:(1) The bond filed by the municipal agent has been cancelled or allowed to lapse; or(2) The bond filed by the municipal agent no longer protects the interest of the state of New Hampshire.(i) Revocation or suspension pursuant to (h) above shall be conducted in accordance with the requirements of RSA 261:74-f, III.(j) In the event a bond is amended or renewed, the municipal agent shall forward a copy of the cover page of the bond to the department, setting forth any changes.N.H. Admin. Code § Saf-C 518.08
#7972, eff 10/17/2003 (See Revision Note #1 at chapter heading for Saf-C 500); ss by #9995, INTERIM, eff 9/17/2011, EXPIRED: 3/15/2012.New. #10135, eff 5/23/2012.Amended by Number 6, Filed February 9, 2023, Proposed by #13521, Effective 1/13/2023, Expires 1/13/2033 (formerly Saf-C 519.08).