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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

Official Publication of the State of Minnesota
Revisor of Statutes