If any licensed dealer, broker or commission merchant for any reason ceases to operate as such, the amount of money or securities deposited in lieu of a bond must be retained by the Department for 1 year. If after the expiration of 1 year after the cessation of such operation, no legal action has been commenced to recover against the money or securities, they must be delivered to the owner. If a legal action has been commenced within that time, all the money and securities must be held by the Department subject to the order of the district court.
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