Wash. Admin. Code § 208-630-240
The penal sum of the surety bond for a person with a check seller license shall not be less than the amount established in the following table:
Highest Monthly Liability* | Required Bond | Plus Percentage of Excess |
Up to $50,000 | Highest Monthly Liability or $10,000, whichever is greater | $0 |
$50,001 to $100,000 | $50,000 | .5 above $50,000 |
$100,001 and above | $75,000 | .25 above $100,000 |
* The monthly liability is the total sum of checks for a given month. The "highest monthly liability" shall be determined by multiplying the highest monthly liability of checks from the preceding calendar year by seventy-five percent.
Wash. Admin. Code § 208-630-240
Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. 05-22-009, § 208-630-240, filed 10/21/05, effective 11/21/05.