(1) The department will only accept license agent security in the

following forms:

(a) Corporate security bond in the amount of at least $1,000, on forms prescribed by the department.

(b) Certificate of deposit assignment agreement, on forms prescribed by the department.

(c) Letter of credit.

(2) All license agents shall provide security in an amount of at least 40% of the previous year's consignments or as determined by the department.

(3) If a license agent does not remit on a timely basis, the department may require 100% security for the following license year.