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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter I - Agricultural Marketing Service (Standards, Inspections, Marketing Practices), Department of Agriculture |
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SubChapter B - Marketing of Perishable Agricultural Commodities |
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Part 46 - Regulations (Other Than Rules of Practice) Under the Perishable Agricultural Commodities Act, 1930 |
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Licenses |
§ 46.5 - Bonds.
Latest version.
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§ 46.5 Bonds.
Bonds prescribed in section 4(c)(6), 4(e), 8(b), and 13(b) of the Act shall be in the form of cash or surety bonds in the form and amount satisfactory to the Director and shall not be less than $10,000. When cash is posted as surety, it shall be deposited into a special account of the United States Treasury and no interest is to accrue or be paid the licensee. When surety bonds are furnished, the surety shall be a company holding a certificate of authority from the Secretary of the Treasury under Act of Congress approved July 30, 1947 (6 U.S.C. 6 through 13) as acceptable surety on Federal bonds.
[44 FR 50575, Aug. 29, 1979]