(230 ILCS 10/10)
(from Ch. 120, par. 2410)
Bond of licensee.
Before an owners license is issued or
re-issued or a managers license is issued, the
licensee shall post a bond in the sum of $200,000 to the State of Illinois.
The bond shall be used to guarantee that the licensee
faithfully makes the payments, keeps his books and records and makes
reports, and conducts his games of chance in conformity with this Act and
the rules adopted 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 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. The total and
aggregate liability of the surety on the bond is limited to the amount
specified in the bond.
(Source: P.A. 93-28, eff. 6-20-03.)