Mississippi Pharmaceutical Drug Facility Bond

A Pharmaceutical Drug Facility Bond is a type of surety bond required to ensure compliance with the the Mississippi Pharmacy Practice Act, Mississippi Code Annotated §§ 73-21-71, et seq., and the rules and regulations adopted by such Act. The surety bond typically must be written in a coverage amount of $25,000 or $100,000 and the purpose of the bond is to guarantee payment of administrative penalties imposed by the Mississippi Board of Pharmacy (MBP), and any fees or costs incurred by the MBP in the enforcement of the rules and regulations pertaining to the bonded principal's permit in the event that the bonded principal fails to pay such fines or costs within thirty days after the order.