§ 8917 - Bonds; discharge - Vermont Statutes

§ 8917. Bonds; discharge

Any surety on a bond furnished by a rental company shall be discharged from any liability to the state accruing on the bond after expiration of 60 days from the date the surety shall have filed with the commissioner a written request to be released and discharged, but the surety shall not be released or discharged from liability already accrued or which shall accrue before the expiration of the 60-day period. The commissioner, upon receipt of such a request, shall promptly notify by mail the rental company who furnished the bond. Unless the rental company, prior to the expiration of the 60-day period, files a new bond satisfactory to the commissioner, the commissioner shall suspend his or her right to operate a motor vehicle in this state. (Added 1983, No. 251 (Adj. Sess.), § 11, eff. Jan. 1, 1985.)