Alabama Statutes
§ 2-8-360 — Duty of Treasurer Before Money Remitted
Alabama·Title 2 Agriculture·Ch. 8 Promotion of Agricultural Industries and Products·Art. 10 Shrimp and Seafood
Before any money is remitted by the commissioner to the treasurer of the certified association, the treasurer shall furnish to the commissioner a bond approved by the commissioner in an amount not less than the estimated annual total amount of the assessments handled by the treasurer. The surety on the bond shall be a corporate surety company duly qualified and licensed to do business in the state, and the bond shall be conditioned upon the faithful handling, proper accounting, and properly authorized expenditure of all funds received and disbursed by the principal named in the bond.
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Legislative History
(Act 2004-301, p. 427, §11.)
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