13-04.1-04.1. Surety bond required

13-04.1-04.1. Surety bond required 1. Each licensee shall maintain a surety bond in an amount not less than fifty thousand dollars. The surety bond must be in a form prescribed by the commissioner. 2. When an action is commenced on a licensee's bond, the commissioner may require the filing of a new bond. 3. Immediately upon recovery upon any action on the bond, the licensee shall file a new bond.