Section 32B-2-604 - Bond related to package agency(1)(a) A package agent who has a consignment liquor inventory owned by the state shall post a: (i) consignment surety bond: (A) payable to the department; and(B) in the amount of the consignment inventory; and(ii) cash or surety bond:(A) payable to the department; and(B) in the penal amount of at least $1,000, as the department determines.(b) A package agent who has a consignment liquor inventory shall ensure that a consignment surety bond is conditioned upon a package agent's return of the unsold consignment liquor inventory at the termination of a package agency agreement.(2) A package agent that owns the package agency's liquor inventory shall post a cash bond or surety bond: (a) in the penal amount of at least $1,000, as the department determines; and(b) payable to the department.(3) A package agent shall procure and maintain the bond required under this section for as long as the package agent continues to operate as a package agent.(4) A bond required under this section shall be:(a) in a form approved by the attorney general; and(b) conditioned upon the package agent's faithful compliance with this title, the rules of the commission, and the package agency agreement.(5)(a) If a surety bond posted by a package agency under this section is canceled due to the package agent's or package agency's negligence, the department may assess a $300 reinstatement fee.(b) No part of a bond posted by a package agent under this section may be withdrawn: (i) during the period the package agency is in effect; or(ii) while a revocation of the package agency is pending against the package agent.(6)(a) A bond posted under this section by a package agent may be forfeited if the package agency is revoked.(b) Notwithstanding Subsection (6)(a), the department may make a claim against a bond posted by a package agent for money owed the department under this title without the commission first revoking the package agency.Amended by Chapter 291, 2021 General Session ,§ 9, eff. 5/5/2021.Amended by Chapter 307, 2011, 2011 General Session.