(a) The application for registration or renewal shall be accompanied by a surety bond in the amount of $50,000. The bond shall provide for the indemnification of any person suffering a loss as the result a violation of this subchapter.
(b) The surety may terminate the bond upon giving a 60-day written notice to the principal and to the Mayor.
(c) Unless the bond is replaced by that of another surety before the expiration of the 60-day notice of cancellation, the registration of the principal shall be treated as lapsed.
(Dec. 1, 1982, D.C. Law 4-164, § 126c; as added June 8, 2001, D.C. Law 13-301, § 102, 47 DCR 7039.)
Structure District of Columbia Code
Title 22 - Criminal Offenses and Penalties
Chapter 32 - Theft; Fraud; Stolen Property; Forgery; and Extortion
Subchapter III-B - Telephone Fraud
§ 22–3226.02. Application for a certificate of registration of telephone solicitor
§ 22–3226.03. Surety bond requirements for telephone solicitors
§ 22–3226.04. Security alternative to surety bonds
§ 22–3226.06. Unlawful acts and practices
§ 22–3226.07. Deceptive acts and practices prohibited
§ 22–3226.08. Abusive telemarketing acts or practices
§ 22–3226.10. Criminal penalties
§ 22–3226.11. Private right of action
§ 22–3226.12. Statute of limitations period
§ 22–3226.13. Task force to combat fraud