§ 22-3226.03. Surety bond requirements for telephone solicitors.

Current through October 23, 2012

(a) The application for registration or renewal shall be accompanied by a surety bond in the amount of $50,000. The bond shall provide for the indemnification of any person suffering a loss as the result a violation of this subchapter.

(b) The surety may terminate the bond upon giving a 60-day written notice to the principal and to the Mayor.

(c) Unless the bond is replaced by that of another surety before the expiration of the 60-day notice of cancellation, the registration of the principal shall be treated as lapsed.

                
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(Dec. 1, 1982, D.C. Law 4-164, § 126c, as added June 8, 2001, D.C. Law 13-301, § 102, 47 DCR 7039.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 13-301, see notes following § 22-3226.01.