Section 6100-S - Surety bondSurety bond requirements are governed by this section.
1.Security. An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section.2. Amount. The amount of the required security is $100,000.3. Exceeding maximum required bond amount. A licensee may exceed the maximum required bond amount pursuant to section 6100-T, subsection 1.Added by 2024, c. 662,§ 2, eff. 8/9/2024.