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.
Structure Code of Alabama
Chapter 32 - Promotion of Ratite Industry.
Section 2-32-3 - Association, Meeting or Activity Not Illegal.
Section 2-32-5 - Nonprofit Association.
Section 2-32-6 - Referendum - Generally; Public Announcement; Expenses; Voting.
Section 2-32-7 - Referendum - Voting; Effects of Vote.
Section 2-32-8 - Referendum - Levying an Assessment.
Section 2-32-9 - Assessment Moneys Collected - Generally.
Section 2-32-10 - Assessment Moneys Collected - No Refunds.
Section 2-32-11 - Duty of Treasurer Before Money Remitted by Commissioner.
Section 2-32-12 - Use of Funds From Assessments.
Section 2-32-13 - Certified Association.
Section 2-32-14 - Certified Association Receiving and Disbursing Funds.
Section 2-32-15 - Adoption of Rules and Regulations.
Section 2-32-16 - Enforcement and Collection of Assessments; Revocation of Certification.