R657-27-5. Bond Requirement

(1) After approval, but before the license agent authorization is executed, the division may require the applicant to post a reasonable bond payable to the division in an amount determined by the division. (2) The division may require any existing license agent to obtain a reasonable bond in an amount determined by the division after providing the license agent 30 business days written notice. (3) The division may require a reasonable increase in the amount of the bond after providing the license agent 30 business days written notice.