The only way to protect operating authority and avoid fines is to have financial security in place effective October 1st. MAP-21 offers the options of either a freight broker surety bond or a trust fund to satisfy the $75,000 security requirement. A trust fund agreement is fully funded by the broker or forwarderâs cash with an approved financial institution for the duration of licensing.
On qualifying transactions under this Sub-Section, the exception as to area and boundaries shall be amended to read: Shortages in area {subject to any additional exceptions, or express insurance coverage, deemed appropriate by the Company} provided that the following requirements are satisfied:ach Rule, endorsement or other form, or provision in the Schedules or in an endorsement to the Loan Policy that refers to a term defined in Section 1 of the Conditions of the Loan Policy (T-2) shall be deemed to refer to the term regardless of whether the term is capitalized in the Rule, endorsement or Schedule.
It states, Civil Code section 4205 is amended to read: â¢ To the extent of any conflict between the governing documents and the law, the law shall prevail. â¢ To the extent of any conflict between the articles of incorporation and the declaration, the declaration shall prevail.