The fresh new surety can get cancel a bond on giving 60 days find with the Administrator of the authoritative send
step one. Upon bill by Administrator of such a notice, the new Commissioner quickly should notify the fresh new licensee who’s the principal to the thread of your effective date regarding cancellation of the thread, and that their particular license is revoked until the newest licensee furnishes an identical bond till the effective date of cancellation. The fresh find need to be provided for the fresh licensee by the formal send so you can his or her past target away from checklist filed from the workplace of the Section.