61-04.1-34. Performance bond, cash, or negotiable securities required

61-04.1-34. Performance bond, cash, or negotiable securities required Before the department of water resources contracts with any controller, the department shall require the controller to furnish a surety bond or cash or negotiable securities for the faithful performance of the contract in such amount as determined by the department, conditioned that the licensee and the licensee's agents will in all respects faithfully perform all weather modification contracts undertaken with the department and will comply with all provisions of this chapter and the contract entered by the department and the licensee.