Surety bond requirements are governed by this section. [PL 2023, c. 662, §2 (NEW).] 1. Security. An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section. [PL 2023, c. 662, §2 (NEW).] 2. Amount. The amount of the required security is $100,000. [PL 2023, c. 662, §2 (NEW).] 3. Exceeding maximum required bond amount. A licensee may exceed the maximum required bond amount pursuant to section 6100-T, subsection 1. [PL 2023, c. 662, §2 (NEW).]
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