The election notice, unless accompanied by a surety bond or
approved municipal or other bonds, approved securities, or a combination
thereof, or other forms of collateral security approved by the director, equal
to the bonding amount, shouldwill contain a statement to the effect that the bonding
amount requirement will be met within thirty days of the effective date of the
election. Failure to meet such bonding amount requirement will cause the
election to become void and the organization shall be or become liable for
contributions as of the date on which the election would otherwise have been
effective.
Effective: 6/18/2020
Five Year Review (FYR) Dates: 4/2/2020 and 06/18/2025
Certification: CERTIFIED ELECTRONICALLY
Date: 06/08/2020
Promulgated Under: 119.03
Statutory Authority: 4141.13
Rule Amplifies: 4141.241
Prior Effective Dates: 01/01/1972, 07/03/1986, 05/29/1990,
06/03/1996, 01/15/2001, 04/01/2015