Idaho § 22-5105 - Amount of bond - Notice of cancellation
Full text of Idaho Idaho Statutes § 22-5105 — Amount of bond - Notice of cancellation, with citation guidance and answers to common questions.
§ 22-5105. Amount of bond - Notice of cancellation
The amount of bond to be furnished for each seed buyer will be fixed at whichever of the following amounts is greater:
(1) The combined total seed buyer indebtedness paid and owed to producers for seed crop stored for withdrawal or transferred during the previous license year; or
(2) The indebtedness owed and estimated to be owed to producers for seed crop for the current license year.
Subsequent to determining whichever of the preceding amounts is greater, and based on that amount, the amount of bond shall be calculated as follows:
Gross Dollars:
Amount of Bond:
$0 - $450,000
$20,000 bond or 6% of the gross
dollars, whichever is less
$450,001 - $1,000,000
$40,000 bond
$1,000,001 - $8,000,000
$100,000 bond
Over $8,000,000
$500,000 bond
In any case, the amount of the bond shall not be more than five hundred thousand dollars ($500,000). This bond shall run concurrently with the seed buyer’s license. A ninety (90) day written notice, by registered or certified mail, return receipt requested, shall be given to the director by the bonding company before it may amend or cancel any bond.
[22-5105, added 2002, ch. 256, sec. 1, p. 739; am. 2003, ch. 151, sec. 2, p. 436.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 22-5105
What does Idaho Statutes § 22-5105 cover?
Section 22-5105 ("Amount of bond - Notice of cancellation") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 22-5105?
A common citation format is "Idaho Statutes § 22-5105" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 22-5105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.