67 Pa. Code § 255.4. Bond.

§ 255.4. Bond.

(a)  General. Messengers shall file and maintain with the Department bonds in the amount as set forth in the Messenger Services Agreement, executed by a surety company authorized by law to transact business within this Commonwealth.
   (1)  The bond shall be for the use of the Commonwealth and persons who have sustained a monetary loss attributable to the intentional or negligent conduct of the messenger service or its agents or employees, including, but not limited to, losses incurred in negotiating checks or other instruments drawn by the messenger service.
   (2)  If the amount of the bond is decreased, or if there is a final judgment outstanding on the bond, the messenger service’s certificate of authorization shall be suspended until steps are taken, satisfactory to the Department, to do one of the following:
     (i)   Restore the original amount of the bond.
     (ii)   Satisfy the judgment.
(b)  Substitute. If the bond is terminated or becomes unsatisfactory for any reason, the authorization to operate a messenger service will be suspended or terminated until the messenger service furnishes the Commonwealth with a satisfactory substitute bond in the amount required by the Messenger Services Agreement.

Authority

   The provisions of this §  255.4 amended under the Vehicle Code, 75 Pa.C.S. § §  6103 and 7501(a).

Source

   The provisions of this §  255.4 adopted September 9, 1977, effective September 10, 1977, 7 Pa.B. 2608; amended May 4, 1984, effective May 21, 1984, 14 Pa.B. 1561; readopted May 26, 1989, effective immediately and applies retroactively to May 5, 1989, 19 Pa.B. 2253; amended October 5, 2012, effective October 6, 2012, 42 Pa.B. 6291. Immediately preceding text appears at serial pages (227746) to (227747).

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