22.09.095 - Single bond by multiple applicants. - Washington Statutes

Single bond by multiple applicants.

(1) Two or more applicants for a warehouse or grain dealer license may provide a single bond to the state of Washington, executed by a corporate surety licensed to do business in this state and designating each of the applicants as a principal on said bond.

     (2) The department shall promulgate rules establishing the amount of the bond required under this section. In no event shall that amount be less than ten percent of the aggregate amount of each of the bonds that would be required of the applicants under RCW 22.09.090 or less than the amount that would be required under RCW 22.09.090 for the applicant having the highest bond requirement under that section.

[1987 c 509 § 3.]

Notes: Severability -- 1987 c 509: See note following RCW 22.09.060.

Grain indemnity fund program: See RCW 22.09.405 through 22.09.471.