§ 113.31. Same party as principal and surety; attorney in fact.
67 words·~1 min read·
/us/cfr/t19/s§ 113.31·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Same party as principal and surety. The same person, partnership, or corporation cannot be both principal and surety on a bond.
(b)Attorney in fact for principal or surety. In executing a bond, a person may act as:
(1)Attorney in fact for both principal and surety;
(2)Surety and attorney in fact for the principal; or
(3)Principal and attorney in fact for the surety.