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The DC Code: § 34-1256.05 Performance bond.

Index34 Public Utilities. (Refs & Annos)
a
At all times during the term of a franchise, including the time for removal of facilities or management, the cable operator shall obtain and hold a performance bond running to the District with good and sufficient surety approved by the Office, in an amount to be determined by the Office or set forth in a franchise agreement, to ensure that the operation of the cable system continues uninterrupted in the event of a default by the cable operator.
b
The cable operator shall make all payments associated with the bond in a timely manner.
c
The cable operator shall file with the Office written evidence of payment of premiums and executed duplicate copies of the bond documents.
d
The bond shall be with a surety company authorized by the District's Superintendent of Insurance to transact business in the District.
e
The bond shall require 60 calendar days written notice of any cancellation to both the Office and the cable operator. If the Office or the cable operator receives a cancellation notice, the cable operator shall obtain a new bond, meeting the requirements of this section, within 60 days after receipt of the notice by the Office or the cable operator.
f
Failure to comply with the provisions of this section, or with the performance bond provisions of the franchise agreement, shall constitute a material violation of a franchise.

Historical and Statutory

Legislative History of Laws For Law 14-193, see notes following § 34-1251.01. DC CODE § 34-1256.05 Current through December 11, 2012

Credits

(Aug. 21, 1982, D.C. Law 4-142, § 605, as added Oct. 9, 2002, D.C. Law 14-193, § 2(b), 49 DCR 7334.)