Sec. 29.04.05.14. Employer Bond or Insurance

A. In order to obtain a license, an applicant shall execute a fidelity bond as provided in §B of this regulation or maintain general liability insurance as provided §C of this regulation.

B. Fidelity Bond.

(1) The amount of the fidelity bond shall be at least $50,000.

(2) The bond shall cover all individuals who are licensed to provide security system services, registered as security systems technicians, have access to circumventional information, or are applicants for a license or registration.

(3) If the fidelity bond is canceled, forfeited, or terminated by the surety, the:

(a) Surety shall immediately notify the Secretary; and

(b) Fidelity bond shall continue in effect until the Secretary is notified.

C. General Liability Insurance.

(1) The amount of the general liability insurance shall be at least $50,000.

(2) If the insurance is canceled, the insured shall immediately notify the Secretary.

D. In addition to the penalties set forth in Regulation .18 of this chapter, a court of competent jurisdiction may enjoin the operation of an employer who violates the requirements of this chapter.