Section 7-9-1. – Power to enter guaranty and suretyship contracts.

§ 7-9-1. Power to enter guaranty and suretyship contracts. Any company incorporated and organized under the laws of any state of the United States, that has a paid up capital of at least two hundred fifty thousand dollars ($250,000), and that has charter authority to transact business as surety on obligations of persons or corporations, […]

Section 7-9-2. – Power to execute bonds and obligations.

§ 7-9-2. Power to execute bonds and obligations. Any company authorized to do business in this state may make, sign, seal, execute, acknowledge, and deliver any bond, guaranty, undertaking, or any other obligation in this state, or may enter into any recognizance or other obligation of record in this state, by its attorney in fact […]

Section 7-9-3. – Acceptance of corporate bond as sole surety.

§ 7-9-3. Acceptance of corporate bond as sole surety. No additional surety is required upon any judicial or official bond or upon any recognizance or other obligation of record, by the judge, head of department, or other officer approving the bond or taking the recognizance, if he or she deems the surety sufficient, but additional […]

Section 7-9-4. – Purpose of provisions.

§ 7-9-4. Purpose of provisions. It is declared to be the true intent and meaning of §§ 7-9-1 — 7-9-7 to enable any company, incorporated and authorized to do business under the laws of this state, to the extent of its corporate powers, to become guarantor in this state, or to become surety upon any […]

Section 7-9-5. – Allowance of bonding costs in accounts.

§ 7-9-5. Allowance of bonding costs in accounts. Any court or officer whose duty it is to pass upon the account of any person or corporation required by law to give bond, may, whenever the person or corporation has given any company as surety upon the bond, allow in the settlement of the account a […]

Section 7-9-6. – Premiums for bonds payable to state.

§ 7-9-6. Premiums for bonds payable to state. Whenever, by the laws of this state, any officer is required to give bond to the state, the bond shall be taken by the general treasurer, in the name of the state, from a company authorized to do business in the state, at the state’s expense; and […]

Section 7-9-7. – Estoppel of corporation to deny authority.

§ 7-9-7. Estoppel of corporation to deny authority. Any company that makes, signs, seals, executes, acknowledges, or delivers any bond, guaranty, undertaking, or other obligation of record in this state, or that enters into any recognizance or other obligation of record whatsoever in this state, under the provisions of §§ 7-9-1 — 7-9-7, is estopped, […]

Section 7-9-8 – — 7-9-12. [Repealed.]

§ 7-9-8 — 7-9-12. [Repealed.]