A limited distributor license will be issued to persons only required to remit the fee imposed by chapter 49, title 41, Idaho Code, and not required to obtain a license under section 63-2427A or 63-2427B, Idaho Code. The licensee is a licensed distributor for the purposes of filing reports, paying fees and other actions necessary for the proper administration of the petroleum clean water trust fund act. A limited distributor license will not be valid for any other purpose. No bond shall be required for a limited distributor license.