All persons who are required to give bond to the State of North Carolina to be received by the Governor or by any department of the State government, in lieu of personal security, may give as security for said bond and for the performance of the duties named in the said bond any indemnity or guaranty company authorized to do business in the State of North Carolina, subject to such regulations as the Governor or department may prescribe, and with power in them to demand additional security at any time. Any person presenting any indemnity or guaranty company as surety shall accompany his bond with a statement of the Insurance Commissioner as to the condition of such company as required by law.
N.C. Gen. Stat. § 58-73-1
State officers may be bonded in surety company
Applied in 1 court decision — leading case 126 N.C. App. 620 - Mellon v. Prosser (1997)
Most recently applied in 126 N.C. App. 620 - Mellon v. Prosser (July 1997)
1901, c. 754; Rev., s. 272; C.S., s. 338.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.