32B-12-206 (Effective 07/01/11) - Bond for liquor warehousing license. - Utah Statutes

32B-12-206 (Effective 07/01/11). Bond for liquor warehousing license.
(1) (a) A liquor warehouser licensee shall post a cash bond or surety bond in the penalsum of $10,000 payable to the department.
(b) A liquor warehouser licensee shall procure and maintain the bond required by thissection for as long as the liquor warehouser licensee continues to operate as a liquor warehouserlicensee.
(2) A bond posted under this section shall be:
(a) in a form approved by the attorney general; and
(b) conditioned upon the liquor warehouser licensee's faithful compliance with this titleand the rules of the commission.
(3) If a surety bond posted by a liquor warehouser licensee under this section is canceleddue to a liquor warehouser licensee's negligence, the department may assess a $300 reinstatementfee.
(4) No part of a bond posted under this section may be withdrawn during the period theliquor warehousing license is in effect.
(5) (a) A bond posted by a liquor warehouser licensee may be forfeited if the liquorwarehousing license is revoked.
(b) Notwithstanding Subsection (5)(a), the department may make a claim against a bondposted by a liquor warehouser licensee for money owed the department under this title withoutthe commission first revoking the liquor warehousing license.

Enacted by Chapter 276, 2010 General Session