Section 230-RICR-30-30-6.8 - BondsA. In accordance with R.I. Gen. Laws § 41-5.2-23, no event license shall be granted unless the Promoter has executed and filed with the Division a bond in a penal sum of fifty-thousand dollars ($50,000), with such surety or sureties as shall be satisfactory to the Division, running to the Division, conditioned upon the payment to the State of Rhode Island of the sums mentioned in R.I. Gen. Laws § 41-5.2-27, and upon faithful compliance by the licensee with the provisions of R.I. Gen. Laws Chapter 41-5.2 and with such other laws of the State as may be applicable to anything done by the licensee in pursuit of the license.B. The bond shall also provide for the forfeiture to the State, recoverable at the suit of the Attorney General, of such sum, not exceeding ten-thousand ($10,000), as may be stipulated in the bond for each case of non-compliance.230 R.I. Code R. 230-RICR-30-30-6.8
Adopted effective 12/24/2019