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-.02 - Amount of Bond
Current through Rules and Regulations filed through March 20, 2024
(1) The surety bond required pursuant to the Act and the rules and regulations therein shall be in an amount equal to the maximum amount of products purchased from or sold for Georgia producers or estimated to be purchased or sold in any month by the dealer in agricultural products.
(2) The minimum amount of such bond shall be $10,000.00 and the maximum amount of such bond shall be $230,000.00, except in the case of pecans for which the maximum amount of such bond shall be $500,000.00.
(3) In the event the maximum amount of products purchased from or sold for Georgia producers or estimated to be purchased or sold in any month by the dealer in agricultural products is less than $10,000.00, the required bond shall be in the amount of $10,000.00.
(4) In the event the maximum amount of products purchased from or sold for Georgia producers or estimated to be purchased or sold in any month by the dealer in agricultural products is greater than $230,000.00, the required bond shall be in the amount of $230,000.00.
(5) In the case of pecans only, in the event the maximum amount of products purchased from or sold for Georgia producers or estimated to be purchased or sold in any month by the dealer in agricultural products is greater than $500,000.00, said dealer shall provide a bond in the amount of $500,000.00.
O.C.G.A. 2-9-1, et. seq.
