Any company incorporated and organized under the laws of any state of the United States for the purpose of transacting business as surety on obligations of persons or corporations, which has complied with all the requirements of this chapter may be accepted as surety in part, or as sole surety, upon the bond of any […]
Any company who shall execute any bond as surety shall, in any proceeding to enforce the liability which it shall have assumed to incur, be estopped to deny its corporate power to execute such instrument or assume such liability. Nor shall any failure to comply with any or all of the provisions of this chapter […]
Before such company shall be accepted as surety, it shall produce to the judge, head of department, or other officer authorized to approve such bond satisfactory evidence of its compliance with and fulfillment of all the requirements of this chapter.
No such company shall be accepted as surety unless the amount of at least One Hundred Thousand Dollars ($100,000.00) of its said paid-up capital is invested in solvent securities created by the laws of the United States or of the State of Mississippi or by or under the laws of the state by which such […]
Every person who shall so represent any such company as to receive or transmit applications for suretyship, or to receive for delivery bonds founded on applications from this state, or otherwise to procure suretyship to be effected by said company upon the bonds of persons or corporations in this state, or upon bonds given to […]
No company shall be accepted as surety on any bond for an amount larger than one tenth (1/10) of the company’s paid-up capital and surplus as reflected in its last annual statement, unless it shall be secured from loss beyond such amount by reinsurance in an authorized company or by the amount of any cosuretyship, […]
