45 IAC 10-4-7 Licenses; canceled bond

Sec. 7. (a) If a licensee's bond on file becomes canceled or otherwise invalid, the licensee must furnish the administrator with a bond satisfying the requirements provided by this article. (b) The bond must be dated so that no lapse in time occurs between the effective date of the new bond and the date on which the previous bond became canceled or otherwise invalid. (c) If the licensee fails to furnish a bond within the time period prescribed by the administrator, the licensee shall be subject to immediate license cancellation.