§ 143-467. Financial responsibility. - North Carolina Statutes

§ 143‑467. Financial responsibility.

(a)        The Board may require from a licensee or an applicant for alicense under this Article evidence of his financial ability to properlyindemnify persons suffering damage from the use or application of pesticides,in the form of a surety bond, liability insurance or cash deposit. The amountof this bond, insurance or deposit shall be determined by the Board, in lightof the risk of damage. The indemnification requirements may extend to damage topersons and property from equipment used (including aircraft).

(b)        The Board may also require a reasonable performance bondwith satisfactory surety to secure the performance of contractual obligationsof the licensee, with respect to application of pesticides. Any person injuredby the breach of any such obligation or any person damaged by pesticides or byequipment used in their application shall be entitled to sue on the bond in hisown name in any court of competent jurisdiction to recover the damages he mayhave sustained.

(c)        Any regulations adopted by the Board pursuant to G.S. 143‑461to implement this section may provide for such conditions, limitations andrequirements concerning the financial responsibility required by this sectionas the Board deems necessary, including but not limited to notice of reductionor cancellation of coverage, deductible provisions, and acceptability ofsurety. Such regulations may classify financial responsibility requirementsaccording to the separate license classifications and subclassificationsprescribed by the Board pursuant to G.S. 143‑452 and the dealer category(Part 3 of this Article). (1971, c. 832, s. 1.)