§ 4145. Fidelity companies may act as sole surety
Where by law two or more sureties are required upon an obligation that a fidelity insurance company is authorized to insure, the fidelity insurance company may act as sole surety upon the obligation and may be accepted as such by the court or other person authorized to approve the sufficiency of the bond or undertaking. Any State law requiring sureties on bonds to be residents of this State shall not be construed to forbid the acceptance of a qualified foreign company as joint and sole surety upon any such bond. (Amended 2021, No. 105 (Adj. Sess.), § 158, eff. July 1, 2022.)
Structure Vermont Statutes
Title 8 - Banking and Insurance
Chapter 111 - Fidelity, Surety, and Annuity Companies
§ 4141. Capital of foreign fidelity and surety companies
§ 4143. Law governing foreign fidelity, surety, and annuity companies
§ 4144a. Powers of fidelity companies; other entities; authority to meet bail and bond requirements
§ 4145. Fidelity companies may act as sole surety
§ 4147. Fiduciaries may secure surety from loss