Arkansas § 26-57-224 Vendor's bond

Arkansas Statutes

§ 26-57-224 — Vendor's bond

(a)Every vendor before beginning operation or commencing business in this state shall give bond to the State of Arkansas.

(b)The bond shall be conditioned upon the faithful performance of the duties and obligations imposed by this subchapter and the rules promulgated by the Secretary of the Department of Finance and Administration.

(c)The bond required shall be established by the following table:

(1)Up to 30 machines ............... $2,000 (2) 31 to 60 machines ............... 3,000 (3) 61 to 90 machines ............... 4,000 (4) 91 to 120 machines ............... 5,000 (5) Over 120 machines ............... 6,000 (d) This bond shall be executed by a solvent surety company authorized to do business in this state or other responsible surety approved by the secretary.

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(a) Every vendor before beginning operation or commencing business in this state shall give bond to the State of Arkansas. (b) The bond shall be conditioned upon the faithful performance of the duties and obligations imposed by this subchapter and the rules promulgated by the Secretary of the Department of Finance and Administration. (c) The bond required shall be established by the following table: (1) Up to 30 machines ............... $2,000 (2) 31 to 60 machines ............... 3,000 (3) 61 to 90 machines ............... 4,000 (4) 91 to 120 machines ............... 5,000 (5) Over 120 machines ............... 6,000 (d) This bond shall be executed by a solvent surety company authorized to do business in this state or other responsible surety approved by the secretary.

Arkansas § 26-57-224 (Vendor's bond) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by Act 2019, No. 315,§ 3034, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 4119, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 4118, eff. 7/1/2019. Acts 1977, No. 546, § 6; A.S.A. 1947, § 84-4506; Acts 1997, No. 1337, §§ 15, 16.