- The application for registration or renewal shall be accompanied by a surety bond in the amount of $50,000. The bond shall provide for the indemnification of any person suffering a loss as the result a violation of this subchapter.
- The surety may terminate the bond upon giving a 60-day written notice to the principal and to the Mayor.
- Unless the bond is replaced by that of another surety before the expiration of the 60-day notice of cancellation, the registration of the principal shall be treated as lapsed.
Historical and Statutory
Legislative History of Laws
For Law 13-301, see notes following § 22-3226.01.
DC CODE § 22-3226.03
Current through December 11, 2012
(Dec. 1, 1982, D.C. Law 4-164, § 126c, as added June 8, 2001, D.C. Law 13-301, § 102, 47 DCR 7039.)