(a) run in favor of the State of Mississippi in the amount set by the agency which shall be a reasonable amount commensurate with the possible danger and potential damage which may occur due to the use, manufacture, production, transportation, transfer, receipt, acquisition or possession of radioactive materials; provided, however, that the minimum amounts shall be as follows:
(i) One Hundred Thousand Dollars ($100,000.00) for all damages because of bodily injury sustained by one (1) person as the result of any one (1) occurrence and Three Hundred Thousand Dollars ($300,000.00) for all damages because of bodily injury sustained by two (2) or more persons as the result of any one (1) occurrence;
(ii) One Hundred Thousand Dollars ($100,000.00) for all claims arising out of damage to property as the result of any one (1) occurrence including completed operations, with an aggregate limit of Three Hundred Thousand Dollars ($300,000.00) for all property damage to which the policy applied; and
(b) have as guarantor on such bond or insurance a surety company licensed to do business in the State of Mississippi.