13 Alaska Admin. Code § 67.920

Current through May 31, 2024

Section 13 AAC 67.920 - Bond requirements

(a) Except as provided in (c) and (d) of this section, an applicant for a process server license shall file with the department a surety bond evidencing liability coverage for fraud, misappropriation or commingling of funds, abuse of process, and malicious prosecution in the minimum amount of $15,000. The bond must provide that it may not be canceled unless 30 days' notice of cancellation is given to the department.

(b) The surety shall file with the department a power of attorney designating its attorney in fact for execution of the bond;

(c) If a process serving firm employs four to seven process servers, the process serving firm may provide a single surety bond that covers each of those process servers, provided that the bond is in the minimum amount of $60,000. A certificate of the bond must be filed with each employee's application for licensure.

(d) If a process serving firm employs eight or more process servers, the process serving firm may provide a single surety bond that covers each of those process servers, provided that the bond is in the minimum amount of $100,000. A certificate of the bond must be filed with each employee's application for license.

(e) If a process server is removed from coverage by a firm's bond, the firm shall immediately notify the department in writing.

(f) If a process server is not eligible to be covered by a firm's bond or is terminated due to a violation that is a cause for license revocation, this information must be included in the notification submitted under (e) of this section.

(g) A process server who is no longer covered by a firm's bond or by the process server's own bond shall return his or her process server license to the department immediately upon termination of coverage. The license will be returned to the process server if the process server submits proof of obtaining the required bond and meets all other eligibility requirements. If a process server fails to submit proof of a new bond within 90 days of the date the process server's previous bond was terminated, the license will be revoked.

13 AAC 67.920

Eff. 11/11/92, Register 124

Authority:AS 22.20.100

AS 22.20.110

AS 22.20.120