There shall be presented and filed with such application a good and sufficient bond in the principal amount of one thousand dollars ($1,000.00) written by some surety company authorized to do business in the State of Mississippi, which shall be subject to the approval of the comptroller. Said bond shall be payable to the State of Mississippi and shall be conditioned that the applicant will well and truly operate its business in conformity to and will abide by the laws of this state regulating the handling of loans or lending money, and all regulations promulgated by the department, and all other applicable statutes of the State of Mississippi, and will pay and discharge any and all indebtedness for which such applicant may become liable under the provisions of this article and any other applicable statutes of the State of Mississippi, to the State of Mississippi, or to any county, municipality or other political subdivision thereof, or any person, firm, or corporation whatsoever. Suits may be brought on said bond and against the surety thereon by any person having a right of action against same in the name of the State of Mississippi for the use and benefit of the person having its may be brought on said bond and against the surety thereon by any person having a right of action against same in the name of the State of Mississippi for the use and benefit of the person having such right of action.Codes, 1942, § 5591-36; Laws, 1958, ch. 168, § 6, eff. 7/1/1958.
Mississippi Legal Code