Rule 10. Proof of financial responsibility; insurance.

(1) Before a license is issued or renewed, the licensee or renewal applicant shall file a proof of financial responsibility for liability for bodily injury on the form prescribed in section 408 of the act for an amount not less than $100,000.00. If the proof under this subrule is a bond, the bond must be in a format acceptable to the department.

(2) A renewal applicant or licensee shall carry premise liability and casualty insurance for an amount not less than $100,000.00. An applicant shall provide proof of premises liability insurance to the department no later than 60 days after a state operating license is issued or renewed.

(3) A secure transporter shall show proof of auto insurance, vehicle registration, and registration as a commercial motor vehicle as applicable for any transporting vehicles used to transport marihuana product as required by the act and these rules.


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