Compilation of Rules and Regulations of the State of Georgia
Department 40 - RULES OF GEORGIA DEPARTMENT OF AGRICULTURE
Chapter 40-30 - DEALERS IN AGRICULTURAL PRODUCTS
Subject 40-30-3 - BONDING
Rule 40-30-3-.01 - Dealer Bond
Current through Rules and Regulations filed through March 20, 2024
(1) Before any Dealer in Agricultural Products license is issued, the applicant shall make and deliver to the Commissioner a surety bond executed by a surety corporation authorized to transact business in this state and approved by the Commissioner.
(2) The surety bond shall be upon a form prescribed or approved by the Commissioner and shall be conditioned to secure the faithful accounting for and payment to producers or their agents or representatives of the proceeds of all agricultural products handled or sold by such dealer.
(4) Whenever the Commissioner shall determine that a previously approved bond has for any cause become insufficient, the Commissioner may require an additional bond or bonds to be given.
(5) Unless the additional bond or bonds are given within the time fixed by written demand therefor, or if the bond of a dealer is canceled, the license of such person shall be immediately revoked by operation of law without notice or hearing and such person shall be ineligible to reapply for such license for a period of four years after such revocation.
(6) In lieu of a surety bond, the Commissioner may accept a cash bond, which shall in all respects be subject to the same claims and actions as would exist against a surety bond.
O.C.G.A. 2-9-1, et. seq.
