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Cancellation of Bond by Bond Company

 

 

33.24(k)(1)... "Surety may terminate liability by giving the proper 30 day written notice..."- a Notice of Cancellation is sent to the commission notifying the bond is being cancelled. Letters are sent by this office notifying applicant to provide another bond and a 30 grace period to provide is given. Permit will be cancelled if they fail to maintain surety.