Surety bond requirements are governed by this section.
1. Security. An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the administrator or, with the administrator's approval, a deposit instead of a bond in accordance with this section.
2. Amount. The amount of the required security is $100,000.
3. Exceeding maximum required bond amount. A licensee may exceed the maximum required bond amount pursuant to section 6100‑T, subsection 1.