Section 296-200A-070. When will the department release a security deposit?
Latest version.
(1) The department will release a security deposit two years after the contractor's last registration has expired unless there is an unsatisfied final judgment or on-going claim against the contractor.
(2) The department will release a security deposit in less than two years after the contractor's last registration has expired if the contractor provides a surety bond covering both the previous and current registration periods.