1999 Minnesota Statutes

     326.94 Bond; insurance. 

    Subdivision 1.    Bond.  (a) Licensed manufactured home 
 installers and licensed roofers must post a license bond with 
 the commissioner, conditioned that the applicant shall 
 faithfully perform the duties and in all things comply with all 
 laws, ordinances, and rules pertaining to the license or permit 
 applied for and all contracts entered into.  The annual bond 
 must be continuous and maintained for so long as the licensee 
 remains licensed.  The aggregate liability of the surety on the 
 bond to any and all persons, regardless of the number of claims 
 made against the bond, may not exceed the amount of the bond.  
 The bond may be canceled as to future liability by the surety 
 upon 30 days' written notice mailed to the commissioner by 
 regular mail. 

    (b) A licensed roofer must post a bond of at least $5,000.  

    Subd. 2.    Insurance.  Licensees must have public 
 liability insurance with limits of at least $100,000 per 
 occurrence, which must include at least $10,000 property damage 
 coverage.  The insurance must be written by an insurer licensed 
 to do business in this state.  The commissioner may increase the 
 minimum amount of insurance required for any licensee or class 
 of licensees if the commissioner considers it to be in the 
 public interest and necessary to protect the interests of 
 Minnesota consumers. 

    HIST: 1991 c 306 s 18; 1993 c 245 s 32; 1999 c 137 s 9