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206.13 - EVIDENCE OF FINANCIAL RESPONSIBILITY REQUIRED BY COMMERCIAL APPLICATOR.

        206.13  EVIDENCE OF FINANCIAL RESPONSIBILITY REQUIRED
      BY COMMERCIAL APPLICATOR.
         The department shall not issue a commercial applicator's license
      as required in section 206.6 until the applicant has furnished
      evidence of financial responsibility with the department.  The
      evidence of financial responsibility shall consist of a surety bond,
      a liability insurance policy, or an irrevocable letter of credit
      issued by a financial institution.  The department may accept a
      certification of the evidence of financial responsibility.  The
      evidence of financial responsibility shall pay the amount that the
      beneficiary is legally obligated to pay as damages caused by the
      pesticide operations of the applicant.  However, the evidence of
      financial responsibility does not apply to damages or an injury which
      is expected or intended from the standpoint of the beneficiary.  A
      liability insurance policy shall be subject to the insurer's policy
      provisions filed with and approved by the commissioner of insurance.
      The evidence of financial responsibility need not apply to damages or
      injury to agricultural crops, plants, or land being worked upon by
      the applicant.
         The amount of the evidence of financial responsibility as provided
      for in this section shall be not less than fifty thousand dollars for
      property damage and public liability insurance, each separately.  The
      evidence of financial responsibility shall be maintained at not less
      than that amount at all times during the licensed period.  The
      department shall be notified ten days prior to any reduction in the
      surety bond or liability insurance made at the request of the
      applicant or cancellation of the surety bond by the surety or the
      liability insurance by the insurer.  The department shall be notified
      ninety days prior to any reduction of the amount of the irrevocable
      letter of credit at the request of the applicant or the cancellation
      of the irrevocable letter of credit by the financial institution.
      The total and aggregate liability of the surety, insurer, or
      financial institution for all claims shall be limited to the face of
      the surety bond, liability insurance policy, or irrevocable letter of
      credit.  

         Section History: Early Form

         [C75, 77, 79, 81, § 206.13] 

         Section History: Recent Form

         2003 Acts, ch 86, §2, 3
         Referred to in § 206.6