§ 4141. Capital of foreign fidelity and surety companies A foreign stock fidelity and surety company shall not do business in this State unless it has a paid up and unimpaired capital, exclusive of stockholders’ obligations, of not less than $400,000.00. (Amended 1965, No. 59, § 1, eff. May 12, 1965.)
§ 4143. Law governing foreign fidelity, surety, and annuity companies The companies specified in section 4141 of this title are governed by and subject to the laws of this State relating to foreign insurance companies and their admission to do business in this State, as applicable. (Amended 2021, No. 105 (Adj. Sess.), § 157, eff. […]
§ 4144a. Powers of fidelity companies; other entities; authority to meet bail and bond requirements (a) Any entity licensed or authorized to transact fidelity insurance or corporate suretyship business in this State may make bonds or contracts of insurance to guarantee the fidelity of persons holding positions of trust in a private or public capacity. […]
§ 4145. Fidelity companies may act as sole surety Where by law two or more sureties are required upon an obligation that a fidelity insurance company is authorized to insure, the fidelity insurance company may act as sole surety upon the obligation and may be accepted as such by the court or other person authorized […]
§ 4146. Limit of liability A foreign fidelity and surety company shall not incur in behalf or on account of any one person, partnership, association, or corporation a liability for an amount larger than one-tenth of its total admitted assets, after deducting from such liability amounts reinsured in other companies authorized to do business in […]
§ 4147. Fiduciaries may secure surety from loss A person, partnership, association or corporation holding property for the benefit of another, except when acting under wills allowed or trusts created before November 27, 1894, may make such covenants with the sureties upon his or her official bond as will enable such fiduciary to secure such […]
§ 4148. Copy of agreement to be filed and recorded A copy of such covenant, duly acknowledged in the manner required for the acknowledgment of deeds of real estate, may be filed and recorded as follows: in the office of the clerk or register of the court in which such fiduciary obtained his or her […]
§ 4149. Allowance of premium against estate Money paid to a company duly organized and authorized to act in this State in guaranteeing the fidelity of persons and in acting as surety on bonds, or to a person for acting as surety on an official bond given to the Judge of Probate, may be allowed, […]
