New Hampshire § 260-37 - Section 260:37 Bond Required of Licensed Distributor.
Full text of New Hampshire New Hampshire Revised Statutes Annotated § 260-37 — Section 260:37 Bond Required of Licensed Distributor., with citation guidance and answers to common questions.
§ 260-37. Section 260:37 Bond Required of Licensed Distributor.
I. (a) Every distributor shall file with the department a bond: (1) In an amount equal to approximately 2 times the monthly road toll liability of the distributor, but not less than $10,000, on a form to be approved by the commissioner; (2) With a surety company authorized to engage in business with the state as surety thereon; (3) Upon which such distributor shall be the principal obligor and the state of New Hampshire shall be the obligee; (4) Conditioned upon the prompt filing of true reports and the payment by the distributor of all motor vehicle road tolls which are imposed and which are to be collected under this subdivision, together with all penalties and interests thereon, and generally upon faithful compliance with the provisions of this subdivision. (b) Changes in the monthly road toll liability level shall also require the bond amount to be adjusted so as to comply with this section. (c) Annually, or sooner, the department shall review the distributor's average liability based on the prior 6 months' road toll returns and, if applicable, notify the distributor of the required adjustment in the level of the bond. Failure to comply with the adjustment or to maintain the bond at the required level shall result in the cancellation of the license. II. Any surety on any bond furnished by any distributor as above provided shall be released and discharged from any and all liability accruing on the bond after the expiration of 60 days from the date upon which such surety shall have filed with the commissioner a written request to be released and discharged. III. In lieu of furnishing a bond executed by a surety company, a distributor may deposit with the state treasurer cash or obligations of the United States or obligations of any federal agency fully guaranteed by the United States or bonds of the state of New Hampshire to the amount of the bond required by this section.
Source: official New Hampshire text · Last verified 2026-08-27
Frequently Asked Questions About New Hampshire § 260-37
What does New Hampshire Revised Statutes Annotated § 260-37 cover?
Section 260-37 ("Section 260:37 Bond Required of Licensed Distributor.") is part of the New Hampshire Revised Statutes Annotated, the codified statutory law of New Hampshire. 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 New Hampshire § 260-37?
A common citation format is "New Hampshire Revised Statutes Annotated § 260-37" (New Hampshire). 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 New Hampshire law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Hampshire official source linked on this page or consult a licensed New Hampshire attorney.
How does New Hampshire § 260-37 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Hampshire 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 New Hampshire.