2010 Arizona Revised Statutes
Title 28 - Transportation
28-5737 Discharge of surety
|
28-5737. Discharge of surety A. On written request to the director, a surety on a bond furnished by a licensee pursuant to this article shall be discharged from any liability to the state accruing on the bond after the last day of the month that includes the sixtieth day after the date of filing the request but not from liability already accrued or accruing before the last day of the month that includes the end of the sixty day period. On receipt of such a request, the director shall promptly notify the licensee who furnished the bond in question. B. Unless the licensee files a new bond satisfactory to the director on or before the last day of the month that includes the end of the sixty day period, the director shall immediately revoke the licensee's license. |
Disclaimer: These codes may not be the most recent version. Arizona 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.
