Section 275.04. Bond.

 

(1)  An applicant for prior approval for use of the telephone procedure shall deposit with the department a surety bond guaranteeing payment of fees for permits issued by the department by telephone to the applicant. The amount of the bond shall be not less than twice the total fees which the applicant estimates may be incurred in any calendar month. The form of the bond and the surety shall be in a form approved by the department.

(2)  Any bond filed with the department under this section shall contain a clause stating that the bonding company shall notify the department at least 30 days prior to the effective date of any suspension, revocation or cancellation of a bond. No suspension, revocation or cancellation of a bond under this section is effective until 30 days after the date it is received by the department.

(3)  Any bond filings, notices of suspension, revocation or cancellation of bonds and any correspondence relating to bonds shall be submitted to the department of transportation, motor carrier permit unit, P.O.. Box 7980, Madison, Wisconsin 53707-7980.

(4)  In lieu of a bond, an applicant may deposit a sum of money not less than twice the total fees which the applicant estimates may be incurred in any calendar month. The deposit may be in the form of cash, certified check, cashiers check, corporate check or personal check. The invoice and payment provisions of ss. Trans 275.08 and 275.09 apply to an applicant utilizing this subsection. A deposit made under this subsection shall be returned to the applicant upon the applicant's request, less any unpaid invoices. An applicant's authority to use the telephone procedure shall be immediately terminated upon the department's receipt of a request for the return of the deposit.

History: Cr. Register, December, 1990, No. 420 , eff. 1-1-91.

Note

The department does not have a standard form for this bond. Standard forms normally used by bonding companies should be used. Microsoft Windows NT 6.1.7601 Service Pack 1