- (a) Any certificate of deposit filed with the Professional Bail Bond Company and Professional Bail Bondsman Licensing Board pursuant to Arkansas Code § 17-19-205 shall be a certificate of deposit issued by an Arkansas bank or federally chartered bank located in Arkansas.
(b)
- (1) No certificate of deposit shall be subject to termination or cancellation by either party in less than sixty (60) days after the giving of written notice thereof to the other parties and the board.
- (2) Notice of termination or cancellation to the board shall be by certified mail, return receipt requested.
- (c) No termination or cancellation shall affect the liability of the surety or sureties on a bond incurred prior to the effective date of termination or cancellation.