Section 32B-5-204 - Bond for retail license(1)(a) A retail licensee shall post a cash bond or surety bond:(i) in the amount specified in the relevant chapter or part for the type of retail license for which the person is applying; and(ii) payable to the department.(b) A retail licensee shall procure and maintain the bond required under this section for as long as the retail licensee continues to operate as a retail licensee.(2) A bond required under this section shall be: (a) in a form approved by the attorney general; and(b) conditioned upon the retail licensee's faithful compliance with this title and the rules of the commission.(3)(a) If a surety bond posted by a retail licensee under this section is canceled due to the retail licensee's negligence, the department may assess a $300 reinstatement fee.(b) No part of a bond posted by a retail licensee under this section may be withdrawn: (i) during the period the retail license is in effect; or(ii) while a revocation proceeding is pending against the retail licensee.(4)(a) A bond posted under this section by a retail licensee may be forfeited if the retail license is revoked.(b) Notwithstanding Subsection (4)(a), the department may make a claim against a bond posted by a retail licensee for money owed the department under this title without the commission first revoking the retail license.Amended by Chapter 219, 2020 General Session ,§ 17, eff. 5/12/2020.Enacted by Chapter 276, 2010 General Session.