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 8 - Promotion of Agricultural Industries and Products.
Article 10 - Shrimp and Seafood.
Section 2-8-350 - Definitions.
Section 2-8-352 - Legality of Association, Meeting, or Activity Under Article.
Section 2-8-354 - Nonprofit Association.
Section 2-8-355 - Referendum - Generally.
Section 2-8-356 - Referendum - Voting.
Section 2-8-357 - Referendum - Levy of Assessment.
Section 2-8-358 - Assessment Moneys Collected - Generally.
Section 2-8-359 - Assessment Moneys Collected - Refunds.
Section 2-8-360 - Duty of Treasurer Before Money Remitted.
Section 2-8-361 - Use of Funds.
Section 2-8-362 - Certified Association - Generally.
Section 2-8-363 - Certified Association - Audit.
Section 2-8-364 - Rules and Regulations.
Section 2-8-365 - Enforcement and Collection of Assessments; Revocation of Certification.