Wholesale Surety Bond Form - Arizona State Board Of Pharmacy
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2ARIZONA STATE BOARD OF PHARMACY
P. O. Box 18520 Phoenix, AZ 85005
p ) 602-771-2727
f ) 602-771-2749
SURETY BOND NO: _________________________
LET ALL INDIVIDUALS PRESENT KNOW THAT __________________________________________ (Principal's name as it
appears on license / permit), City of _________________________, County of _________________________, State of
_________________________, as Principal and _________________________ (Surety's name), a corporation organized and
existing under the laws of the State of _________________________, with a place of business at _________________________
(Surety's address), City of _________________________, State of _________________________, and licensed to transact a
surety business in the State of Arizona, as a Surety, are indebted to the Arizona State Board of Pharmacy (ASBP), in the sum of
One Hundred Thousand Dollars ($100,000), for which payment and Principal and Surety bind ourselves and our legal
representatives and successors, jointly and severally.
The condition of this obligation is that Principal is a prescription-only drug wholesaler (full service wholesale) or a nonresident
prescription-only drug wholesaler (full service wholesale), a permittee, as defined in Arizona Revised Statutes (A.R.S.) § 32-1901
(34) and § 32-1930(A)(2), and is required by the ASBP, under A.R.S. § 32-1982(D), to post a surety bond in the amount of
$100,000. The purpose of this surety bond is to ensure compliance with the requirements of and for wholesale distribution of
prescription-only drugs as set forth in the Arizona Pharmacy Practice Act, A.R.S. Title 32 Chapter 18 (the Act) and the rules
adopted there under, and to secure payment of any administrative penalties imposed by the ASBP, and any fees and costs
incurred by the ASBP regarding that permit and which the Principal fails to pay thirty (30) days after the fine or costs become final.
If Principal and all of Principal's agents and employees faithfully conform to and abide by the provisions of the Act and rules
adopted there under, together with all amendatory and supplementary acts and rules, now and hereafter enacted, then this
obligation shall be void; otherwise, it shall be in full force and effect. The ASBP may make a claim against this surety bond until
one year after the Principal's full service wholesale permit or nonresident full service wholesale permit issued under the Act
ceases to be valid or until thirty (30) days after any administrative or legal proceeding authorized in the Act, which involved the
Principal is concluded, including any appeal, whichever occurs later.
The total aggregate liability of the bond shall be limited to the sum of $100,000 Dollars and is for the Principal's
1.
noncompliance with the Act and the rules adopted there under, and for payment of any administrative penalties imposed by
the ASBP and any fees and costs incurred by the ASBP, both regarding the Principal's operation as a full service wholesale
permittee or nonresident full service wholesale permittee, which the Principal fails to pay thirty (30) days after the fine or costs
become final.
2.
This bond and the obligation under the bond shall be deemed to run continuously, and shall remain in full force and effect for
one year after the Principal's full service wholesale permit or nonresident full service wholesale permit issued under the Act
ceases to be valid or until thirty (30) days after any administrative or legal proceeding authorized in the Act, which involved the
Principal is concluded, including any appeal, whichever occurs later, or as otherwise provided by law.
3.
The ASBP, acting through its Executive Director, reserves the right, at any time, to terminate this bond, except as to any
liability already incurred or accrued, by written notice of such termination to the Surety delivered or mailed by certified or
registered mail. On expiration of the period designated in such notice, which period shall be sixty (60) days from the time the
notice was mailed, this bond shall terminate and be of no further force or effect except as to any liability incurred or accrued
before the termination date.
4.
Surety reserves the right to terminate this bond at any time, such termination to be effected by Surety giving sixty (60) days
written notice, including reason(s), by certified or registered mail to: The Principal and The Arizona State Board of
Pharmacy, 1700 W. Washington, Suite 250, Phoenix, Arizona 85007 . The liability of Surety on this bond shall cease sixty
(60) days after receipt of the termination notice by ASBP and Principal, or on the filing and acceptance of a new bond
whichever first occurs; and the bond shall terminate and be of no further force or effect, except as to any liability, debt, or other
obligation incurred or accrued before the effective date of such termination. The Principal insured under the bond shall, within
thirty (30) days of the filing of the notice of termination, provide the ASBP with a replacement bond. The Principal's failure to
obtain a replacement bond while having a permit or failure to notify the ASBP that its existing bond is being terminated or
cancelled is "unethical conduct" and is a voilation of A.R.S. § 32-1901.01(A)(5) and § 32-1901.01(A)(18).
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