(a)

1. (1) If it is found that any licensee has been found guilty of misconduct or malfeasance and upon notice from the aggrieved party of damages due to the licensee's misconduct or malfeasance, the Professional Bail Bond Company and Professional Bail Bondsman Licensing Board may notify the licensee by certified mail of the claim.
2. (2) If the verified amount due the aggrieved party is not paid within twenty (20) days of issuance of notice, the board may suspend the license and immediately withdraw the allowable amount from the posted certificate of deposit or maintain a civil action on the letter of credit.
3. (3) The license of the malefactor shall remain suspended until the amount of damage is paid.
4. (4) If the amount remains unpaid after suspension, the board may order a hearing for the licensee to show cause why his or her license should not be revoked.
5. (5) Any company whose license is revoked pursuant to an order of the board after notice and hearing must immediately discontinue operations.

(b)

1. (1) When a final civil judgment of forfeiture is entered as to a bail bond issued by a licensee by a court of competent jurisdiction and the judgment is not paid within ninety (90) days thereafter and is forwarded to the board pursuant to Arkansas Code § 17-19-208(b)(1), the board shall notify the licensee involved by certified mail.
2. (2) If the forfeiture judgment remains unpaid for ten (10) days following issuance of notice, the board may administratively suspend the license and make claim against the licensee's security deposit up to the allowable amount of ten thousand dollars ($10,000).