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Bond for issuance of slot machine license - 4 Pa. Cons. Stat. § 1316

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     § 1316.  Bond for issuance of slot machine license.
        Before any category of slot machine license is issued, the
     licensee shall post a bond in an amount not less than the sum of
     $1,000,000, as set by the board, payable to the Commonwealth.
     The bond shall be used to guarantee that the slot machine
     licensee faithfully makes the payments, keeps books and records,
     makes reports and conducts operations in conformity with this
     part and rules, regulations and orders promulgated by the board.
     The bond shall not be canceled by a surety on less than 30 days'
     notice in writing to the board. If a bond is canceled and the
     slot machine licensee fails to file a new bond with the board in
     the required amount on or before the effective date of
     cancellation, the licensee's license shall be revoked or
     suspended. The total and aggregate liability of the surety on
     the bond is limited to the amount specified in the bond.

Last modified: November 27, 2007