Okla. Stat. tit. 14A, § 14A-3-810
This is the official text of Okla. Stat. tit. 14A, § 14A-3-810, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Bond - Letter of credit
Official statutory text
BOND; LETTER OF CREDIT.
A. The Administrator may require an applicant or license holder
to file a bond with the application in an amount not to exceed Fifty
Thousand Dollars ($50,000.00).
B. The bond terms shall run concurrent with the licensing
period. The bond shall provide that the license holder will, during
the licensing period:
1. Faithfully conform to and abide by:
a. the requirements of this act, and
b. the rules adopted by the Administrator to administer
this act; and
2. Provide any amount that may become due or owing to the state
from the license holder under this act.
C. In lieu of the bond, the applicant or license holder, at the
applicant's or license holder's option, may post an irrevocable
letter of credit.
A. The Administrator may require an applicant or license holder
to file a bond with the application in an amount not to exceed Fifty
Thousand Dollars ($50,000.00).
B. The bond terms shall run concurrent with the licensing
period. The bond shall provide that the license holder will, during
the licensing period:
1. Faithfully conform to and abide by:
a. the requirements of this act, and
b. the rules adopted by the Administrator to administer
this act; and
2. Provide any amount that may become due or owing to the state
from the license holder under this act.
C. In lieu of the bond, the applicant or license holder, at the
applicant's or license holder's option, may post an irrevocable
letter of credit.
Status: in_force · Read it on the official government site
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