574.01 BONDS, REQUISITES AND EXECUTION. Save when otherwise specially provided by statute, every bond, recognizance, or undertaking required or permitted to be made, given, tendered, or filed for the security or protection of the state, or of any person, corporation, municipality, or department thereof, or any other organization whatever and conditioned for the doing or […]
574.03 PAYMENT OF PREMIUM. The premiums upon the bonds of all state officers and the premiums on all fidelity insurance placed under the provisions of this section shall be paid out of the appropriation for the maintenance of the department for which such bond or insurance is required and such fidelity insurance, when placed in […]
574.04 SURETY BONDS TO FEDERAL GOVERNMENT. When the laws of the United States, or the regulations or orders of any department of the federal government, require the delivery of a properly executed surety bond, conditioned in a specified manner, as a condition precedent to receiving military property, or equipment, or property of the federal government, […]
574.05 LIBERTY LOAN BONDS SECURITY. Any person or corporation who may make a contract with the state, or with any municipal corporation, or any public board or department thereof, for the doing of any public work, including construction of any drainage ditch, may, in lieu of giving the usual bond or undertaking, pledge United States […]
574.06 DEPOSIT OF SECURITIES. These bonds so pledged shall be delivered to the officer or department required by law to receive the bonds of public contractors, or who may be designated by the state or other municipal corporation or department with which the contract may be made. The deposit of the securities shall be in […]
574.07 MARKET VALUE. The market value of the bonds so pledged shall not be less than the contract price. History: (9681) 1919 c 346 s 3
574.08 PROTECTION OF PLEDGE ON COMMENCING ACTION. Any person entitled to the protection of such pledge, wishing to take advantage of its benefits at the time of commencing any action against either the contractor or any subcontractor engaged in such work, shall notify, in writing, the state or corporation or department with which such pledge […]
574.09 ADDITIONAL SECURITY. When, in its judgment, other or further security is required, the state or such other corporation or department may require the contractor to furnish other or further security of the same nature within ten days, and thereupon if so ordered, the work on such contract shall cease until such other or further […]
574.10 NOTICE OF CLAIM. No action shall be maintained by any person seeking to take advantage of the benefit of such pledge, unless within 90 days after the completion of the contract and acceptance by the proper public authorities of the work done, the plaintiff shall serve upon the contractor and upon the state or […]
574.11 RECEIVERS’ BONDS TO RUN TO STATE. Bonds given by receivers and trustees appointed by the district court in any action or proceedings shall run to the state of Minnesota for the benefit of all persons in interest. Any person interested may maintain an action in the person’s own name upon any such bond. History: […]
574.12 MODES OF JUSTIFICATION. The justification of sureties mentioned in section 574.01 shall be by affidavit, annexed to the bond or other security, wherein each surety shall state, under oath, that it is worth a certain definite amount above its debts and liabilities and exclusive of its property exempt from execution, but the aggregate of […]
574.13 STATE AND COUNTY OFFICERS; UNIFORM BOND. When, by law, an official bond is required of any state or county officer, it shall be sufficient for all purposes if the same be substantially in the following form: “Know All by These Presents, that ………………., as principal, and ……….., as surety ……., are jointly and severally […]
574.14 BONDS EXECUTED UNDER OTHER PROVISIONS. All those rights and obligations which would be created were the bond of any such officer executed under any other law are hereby declared to exist and be of the same force where such bond is executed in the foregoing form. History: (9688) 1909 c 107 s 2
574.15 SURETY COMPANIES. When the bond or other instrument is required to be made with one surety, or with two or more sureties, it shall be sufficient if the same be executed, or the conditions thereof be guaranteed, solely by a corporation authorized by law so to do. No such corporation shall be accepted or […]
574.16 SURETY, SUBROGATION. When the surety upon the bond of any state officer shall have fulfilled the conditions of such bond and compensated the state for any loss occasioned by any act or omission of such officer, such surety shall be subrogated to all the rights of the state and, if there shall be any […]
574.17 SURETIES FOR PART OF PENALTY. Sureties may be accepted, in the discretion of the approving officer or body, for a part only of the penalty, and may justify in separate and different sums; but the aggregate liability of the sureties shall in all cases be not less than that required by law if each […]
574.18 UNDERTAKING IN LIEU OF BOND. In all cases of appeal from a county board to the district court upon the allowance or disallowance of claims, in all actions begun in the district court, in all cases of appeal or writ of error to remove a cause or proceeding to the court of appeals or […]
574.19 COST OF SURETY BONDS; PROPER EXPENSE ITEMS. Any receiver, assignee, trustee, committee, guardian, executor, administrator, or other fiduciary, required by law to give bond as such, may include as a part of lawful expenses such actual sum paid for such suretyship, not exceeding $10 per annum when the amount of the bond is not […]
574.20 BONDS, BY WHOM APPROVED. Except as otherwise provided by law in particular cases, bonds shall be approved as follows: (1) the official bonds of all state officers, including those of the treasurers, superintendents, and other officials, and employees of the several public educational, charitable, penal, and reformatory institutions belonging to the state, shall be […]
574.205 BONDS; STATE OFFICIALS AND EMPLOYEES EXCLUDED. On and after July 1, 1971, and notwithstanding any law to the contrary, elected state officials, appointed state officers and other state employees are not required to give and file surety or fidelity bonds, except when federal law or rule requires such a bond as a condition precedent […]
