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§ 490. Cancellation of bond--Grounds--Notice

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 12. Guaranty or Surety Companies (Refs & Annos)
18 Okl.St.Ann. § 490
§ 490. Cancellation of bond--Grounds--Notice
Where any surety company bond is required to be executed by any county, district, or state officer or his deputy or by any county employee who has in his custody any money or property belonging to the county for the purposes of his employment, whether said bond is required by law or by the board of county commissioners or by the principal officer, such surety or sureties may, if they deem themselves unsafe or insecure, upon thirty (30) days written notice given to the Secretary of State as to state and district officers and as to county officers the board of county commissioners, withdraw and cancel their obligations as surety or sureties on said bond; provided that such cancellation shall not relieve the surety company from any liability previously incurred, and said pro rata share of the unearned premium shall be returned.

Credits

Laws 1957, p. 450, § 1, emerg. eff. April 30, 1957.
18 Okl. St. Ann. § 490, OK ST T. 18 § 490
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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