Section 3.70  Cancellation of Surety Bond

Persons having Surety Bonds filed with the Department of Agriculture shall use the following procedure in regard to cancellation of Surety Bonds:

a)         Notice of cancellation shall be sent by certified or registered mail or written notification delivered personally to the Director of the Department of Agriculture, State Fairgrounds, P.O. Box 19281, Springfield, Illinois 62794-9281. A copy of the notice of cancellation shall be delivered to the principal on the same day as notice is delivered to the Director.

b)         Notice shall contain the Surety Bond number, amount of surety, and the name of principal.

c)         The date of the notice of cancellation and the effective date of the termination of the bond shall be set as follows:

1)         The date of notice of cancellation shall be the date the notice is received by the Department of Agriculture.

2)         The effective date of termination of the bond can be no sooner than the date of notice plus the required notice period as established in the licensing act.  The notice of cancellation shall not affect the liability accrued or which may accrue under such bond before the effective date of termination.

(Source:  Amended at 22 Ill. Reg. 11698, effective June 25, 1998)