There Is a Newer Version
of
the Code of Alabama
2012 Code of Alabama
Title 2 - AGRICULTURE.
Chapter 2 - COMMISSIONER OF AGRICULTURE AND INDUSTRIES.
Section 2-2-71 - Substitution of bond equivalent; forms.
Universal Citation:
Section 2-2-71Substitution of bond equivalent; forms.
AL Code ยง 2-2-71 (2012)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(a) Whenever there is a requirement under law to obtain any permit or license issued by the Commissioner of Agriculture and Industries, the Board of Agriculture and Industries or the Department of Agriculture and Industries that the permittee or licensee be bonded, the licensee or permittee may substitute in lieu of the bond a bond equivalent.
(b) The bond equivalent shall be in the form of a trust fund agreement based upon cash, fully negotiable bonds of the U.S. Government or of the State of Alabama, or an irrevocable letter of credit.
(c) The Commissioner of Agriculture and Industries shall furnish all necessary forms to be used for the issuance of the bond or bond equivalent.
(Acts 1989, No. 89-692, p. 1364, §2.)
Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
