61-5A-16. Liability of surety on bond on failure of organization to pay.
59 words·~1 min read·
/sd/title-61/chapter-61-5/61-5a-16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Failure by any organization covered by a bond required by § 61-5A-12 to pay the full amount of payments in lieu of contributions when due, together with any applicable interest and penalties provided for in § 61-5A-33 , shall render the surety liable on said bond to the extent of the bond, as though the surety was such organization.