An applicant must file a $5,000 bond or approved security with the assistant secretary before a license is granted, and the licensee must follow the bond’s conditions.
§106. Bond; conditions A. No license shall be granted until the applicant has filed with the assistant secretary a bond with a surety company authorized to do business in the state for each licensed office, or with other security approved by the assistant secretary, in the sum of five thousand dollars. The beneficiary of the bond shall be the assistant secretary. The bond shall contain the following conditions: (1) That the licensee shall not violate any law or any lawful order, rule, or regulation of the state relating to employment services. (2) That the licensee shall comply with all the terms and conditions of its contracts with applicants and employers. (3) That the licensee shall pay all damages resulting from any unlawful action in its capacity as an employment service. (4) That the attorney general, suing under R.S. 51:1408, or anyone injured by the licensee or by his agents or employees while acting within the scope of their employment, by reason of a misstatement, misrepresentation, fraud, or deceit, or by reason of any other unlawful act or omission, or by reason of any other violation of the provisions of this part, made or committed in connection with the prosecution of the business licensed hereunder, shall have the right to sue on the said bond for damages or other relief in any court of competent jurisdiction. (5) The bond shall have an expiration date of December thirty-first, to coincide with the date a license expires. Each renewal of the bond shall be for the period January first through December thirty-first. B. The bond furnished to the assistant secretary shall be filed in his office and become part of the records of the office of workforce development. The assistant secretary may at any time notify any licensed person to file a new bond whenever he deems the security of such bond unsatisfactory or finds that the bond is insufficient to satisfy all claims accrued or contingent against any licensed person. The failure of the licensee to file a new bond within thirty days after receipt of this notice shall constitute sufficient cause for revocation of the license. C. Repealed by Acts 1993, No. 982, §2. Acts 1981, No. 732, §1; Acts 1992, No. 633, §1, eff. Jan. 1, 1993; Acts 1993, No. 982, §§1 and 2; Acts 1997, No. 1172, §4, eff. June 30, 1997; Acts 2007, No. 113, §3.