Ala. Admin. Code r. 80-8-9-.08

Current through Register Vol. 43, No. 1, October 31, 2024

Section 80-8-9-.08 - Bond Required For Certified Association

The treasurer of the certified Association shall be bonded in an amount of not less than forty thousand dollars ($40,000). At the end of a complete year of assessment collections, the above bond amount requirement will be adjusted to adequately reflect as required under the law, the amount of assessment forwarded to the certified Association.

Author: Robert J. Russell

Ala. Admin. Code r. 80-8-9-.08

New Rule: Filed August 12, 2003; effective September 16, 2003.

Statutory Authority:Code of Ala. 1975, § 2-8-208.