Regulation .05 Posting.

If the applicant chooses to post a surety bond, letter of credit or

If the applicant does not file a financial statement, the Department may not issue a:

(1)

Type A license if the applicant posts an amount less than $15,000;

(2)

Type B license if the applicant posts an amount less than $35,000; and

(3)

Type C or D license if the applicant posts an amount less than $100,000.

If the applicant chooses the posting option, he shall:

(1)

Show the same name for the following matters:

(a)

The named applicant, in his grain dealer's license application,

(b)

The named principal, if he posts a surety bond, or

(c)

The named obligor or guarantor, if he posts either an irrevocable letter of credit or cash guaranty;

(2)

Name the Maryland Department of Agriculture as the obligee or as the beneficiary of the surety bond, irrevocable letter of credit or cash guaranty.