Bond requirements - Effect of invalid bond - Liability of surety

(a) The bond required by § 62-32-105 shall be in effect at all times and places in which the fire protection sprinkler system contractor engages in business in this state. If the bond ceases to be in effect, the certificate of registration of the contractor shall become invalid. (b) In no event shall the aggregate liability of the surety exceed the amount of the bond. Acts 1984, ch. 949, § 9. (a) The bond required by § 62-32-105 shall be in effect at all times and places in which the fire protection sprinkler system contractor engages in business in this state. If the bond ceases to be in effect, the certificate of registration of the contractor shall become invalid. (b) In no event shall the aggregate liability of the surety exceed the amount of the bond. Acts 1984, ch. 949, § 9.