Iowa Admin. Code r. 701-254.7
Current through Regsiter Vol. 46, No. 26, June 12, 2024
When bonds are required by Iowa Code chapter 453A or these rules, said bonds shall be in the form of cash, a certificate of deposit or a bond issued by a surety company licensed to do business in the state of Iowa, payable to the state of Iowa and in a form approved by the director. Bonds required by tobacco distributors must be issued by a surety company licensed to do business in Iowa. However, upon approval by the director, a cash bond or a certificate of deposit will be accepted by the department as a substitute for the surety bond. (See Iowa Code section 453A.44(4).)
This rule is intended to implement Iowa Code sections 453A.14 and 453A.44.
Iowa Admin. Code r. 701-254.7