Surety Bond

In accordance with M.G.L. c. 147, § 34, no event license shall be granted unless the promoter has executed and filed with the commission a bond in a penal sum of $50,000, with such surety or sureties as shall be satisfactory to the Commission, running to the Commission, conditioned upon the payment to the Commonwealth of Massachusetts of the sums mentioned in M.G.L. c. 147, § 40, and upon faithful compliance by the licensee with the provisions of M.G.L. c. 147, §§ 32 through 47, 523 CMR, and with such other laws of the Commonwealth as may be applicable to anything done by the licensee in pursuance of the license. The bond shall also provide for forfeiture to the Commonwealth, recoverable at the suit of the attorney general, of such sum, not exceeding $10,000, as may be stipulated in the bond for each case of non-compliance.