(1) Subject to other provisions of this part, any authorized surety insurer may be accepted as surety on the bond of any person required by the laws of this state to give bond and may be the only surety necessary to render the bond valid; but other surety may, in the discretion of the official authorized to approve the bond, be required.
(2) A surety insurer may be released from its liability on the same terms and conditions as are by law prescribed for the release of individuals and shall be subject to all the rights and liabilities of natural persons.
History.—s. 611, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 564, 573, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.
Structure Florida Statutes
Chapter 627 - Insurance Rates and Contracts
Part XII - Surety Insurance Contracts (Ss. 627.751-627.759)
627.751 - Surety on required bonds; release.
627.752 - Bonds in judicial proceedings.
627.754 - Sureties upon official bonds.
627.756 - Bonds for construction contracts; attorney fees in case of suit.
627.758 - Surety on auto club traffic arrest bond; conditions, limit; bail bond.