Bond Required For Certified Association

80-8-9-.08 Bond Required For Certified Association. The treasurer of the certified Association shall be bonded in an amount of not less than forty thousand dollars ($40,000). At the end of a complete year of assessment collections, the above bond amount requirement will be adjusted to adequately reflect as

required under the law, the amount of assessment forwarded to the certified Association. Author: Robert J. Russell Statutory Authority: Code of Ala. 1975, §2-8-131. History: New Rule: Filed August 12, 2003; effective September 16, 2003.