§8-208. Reduction of liability where signed by surety company
If a surety company becomes surety on a bond given to the State of Maine, the court may, upon petition of any party in interest and after notice to all interested parties, reduce the amount for which the principal and surety are liable for a subsequent violation of the conditions of the bond. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
Structure Maine Revised Statutes
Article 8: MISCELLANEOUS PROVISIONS
Part 2: PROCEDURES GOVERNING BONDS
18-C §8-201. Applicability to proceedings on other bonds
18-C §8-202. Surety on bond may cite trust officers for accounting
18-C §8-203. Agreement with sureties for joint control
18-C §8-204. Approval of bond by judge
18-C §8-205. Insufficient sureties
18-C §8-206. Discharge of surety
18-C §8-207. New bonds or removal of principal
18-C §8-208. Reduction of liability where signed by surety company
18-C §8-210. Principal made party in action against surety
18-C §8-211. Proceedings and judgment
18-C §8-212. Limitation of actions on bonds
18-C §8-213. Judicial authorization of actions