§ 31-36.1-7 - Discharge of surety. - Rhode Island Statutes

SECTION 31-36.1-7

   § 31-36.1-7  Discharge of surety. –Any surety on a bond furnished by a motor carrier shall be discharged from anyliability to the state accruing on the bond after expiration of sixty (60) daysfrom the date which the surety shall have filed with the administrator awritten request to be released and discharged, but not from liability alreadyaccrued before the expiration of the sixty (60) day period. The administrator,upon receipt of the request, shall promptly notify the motor carrier whofurnished the bond in question. Unless the motor carrier, prior to theexpiration of the sixty (60) day period, files a new bond satisfactory to theadministrator, the administrator shall immediately revoke the motor carrier'slicense and identification devices.