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208-25
208.25 CANCELLATION OF BOND.
No bond filed with the division by an operator pursuant to this
chapter may be canceled by the surety without at least ninety days'
notice to the division. If the license to do business in Iowa of any
surety of a bond filed with the division is suspended or revoked, the
operator, within thirty days after receiving notice thereof from the
division, shall substitute for the surety a corporate surety licensed
to do business in Iowa. Upon failure of the operator to make
substitution of surety as herein provided, the division shall have
the right to suspend the operator's authorization to conduct mining
on the site covered by the bond until substitution has been made.
The commissioner of insurance shall notify the division whenever the
license of any surety to do business in Iowa is suspended or revoked.
Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 83A.25] Section History: Recent Form
C93, § 208.25
96 Acts, ch 1043, §17
