12-230-206. Financial assurance required - rules

12-230-206. Financial assurance required - rules. (1) Before the director issues a license to an applicant for a hearing aid provider license, the applicant shall post a surety bond in the amount of ten thousand dollars, maintain a one-million-dollar professional liability policy, or comply with an alternative as determined by the director. A licensed hearing aid provider shall maintain the required bond, policy, or alternative at all times. (2) The director may file a claim, or assist a consumer in filing a claim, on the bond, policy, or alternative. (3) The director, by rule, shall determine the requirements for the financial assurance required by this section.