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(2) (a) 1. A bond endorsed by a surety company authorized to do
7business in this state of not less than
$25,000 $5,000, conditioned upon the applicant
8complying with all applicable provisions of the one- and 2-family dwelling code and
9any ordinance enacted under s. 101.65 (1) (a)
and as indemnity for any loss sustained
10by any person because of any violation by the applicant of that dwelling code or
11ordinance.
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(2m) If an applicant wishes to use a bond under sub. (2) (a) 1. of less
14than $25,000 to comply with sub. (2) (a), the applicant shall agree not to perform any
15work on a dwelling for which the estimated cost of completion is greater than the
1amount of the bond. The department shall indicate any restriction under this
2subsection on the certificate of financial responsibility issued under sub. (3).".
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(4) (b) A bond under sub. (2) (a) 1. shall be executed in the name of the
7state for the benefit of any person who sustains a loss as
described in sub. (2) (a) 1. 8a result of the person insured under the bond not complying with an applicable
9provision of the one- and 2-family dwelling code or any ordinance enacted under s.
10101.65 (1) (a), except that the aggregate liability of the surety to all persons may not
11exceed the amount of the bond.".
