20-1531. Sole surety on official bonds
177 words·~1 min read·
/az/title-20/20-1531A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When any bond, recognizance or undertaking is required or permitted to be made for the security or protection of any person or municipality, the state, or any department thereof, or organization, conditioned for the doing or not doing of anything therein specified, any such board, court, organization or officer required or permitted to accept or approve the sufficiency of the bond, recognizance or undertaking, may accept and approve it when executed, or when the conditions thereof are guaranteed, solely by an insurer authorized to transact a surety business in this state in accordance with the requirements of this title.
When any such bond, recognizance or undertaking is required to be made with one surety or with two or more sureties, the execution of the bond, recognizance or undertaking, or the guarantee of the performance of the conditions thereof, shall be sufficient when so executed or guaranteed solely by one such insurer, and shall be a full compliance with every requirement of every law, ordinance or regulation relating thereto, and no justification by such insurer shall be necessary.