Mich. Admin. Code R. 436.2013
Current through Vol. 24-21, December 1, 2024
Rule 13. When the commission releases all or any portion of cash or unencumbered securities to a claimant, the retail licensee shall immediately provide additional cash or unencumbered securities to the commission so as to restore, to not less than $50,000.00, the total value of cash and unencumbered securities. If a licensee fails to provide additional cash or unencumbered securities, the license shall be suspended pursuant to the provisions of Act No. 306 of the Public Acts of 1969, as amended, being S24.201 et seq. of the Michigan Compiled Laws, until such time as additional cash or unencumbered securities have been provided to the commission.
Mich. Admin. Code R. 436.2013