Any seed buyer against whose bond a claim has been ordered collected or has actually been collected shall not be licensed by the department for a period of three (3) years from the date of such order or collection. License denial may be waived if the person can show, to the satisfaction of the director, that full settlement of all claims against the bond have been made. Full settlement does not include seed indemnity fund settlements. A change in a person's business name shall not absolve any unsettled claim against that person's prior bond.
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