Section 27-115-35 - Bond for protection of corporation; other surety in lieu of bond; annual review of bond

Whenever a bond is required for the protection of the corporation, letters of credit or other surety approved by the corporation may be utilized in lieu of a bond. All bonds or letters of credit shall be reviewed at least annually as to their solvency and sufficiency.Added by Laws, 2018EX1, ch. 2, SB 2001,§ 18, eff. 9/1/2018.