Section 205-D:9 Bond Required.
I. The board shall not issue a license to any person unless the person has posted a surety bond or letter of credit to be held by the state treasurer in an amount to be determined by the board. No surety bond or letter of credit shall be accepted unless it is with a surety company authorized to do business in this state. The surety may cancel the bond or letter of credit at any time upon giving 30 days' written notice to the board.
II. Any person who is damaged by any violation of this chapter may bring an action against the bond or letter of credit to recover damages suffered and any other amounts allowable by law. The attorney general, in any action brought under this chapter or any other applicable provisions of the law, may likewise proceed against the bond or letter of credit.
Source. 2004, 191:1, eff. July 1, 2004. 2005, 184:6, eff. June 30, 2005.