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§ 491. Agreement between principal and surety for deposit of monies and assets

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. § 491
§ 491. Agreement between principal and surety for deposit of monies and assets
It shall be lawful for any party of whom a bond, undertaking or other obligation is required, to agree with his surety or sureties for the deposit of any or all monies and assets for which he and his surety or sureties are or may be held responsible, with a bank, savings bank, safe-deposit or trust company, authorized by law to do business as such, or with other depository approved by a court or a judge thereof, if such deposit is otherwise proper, for the safe-keeping thereof, and in such manner as to prevent the withdrawal of such money or assets or any part thereof, without the written consent of such surety or sureties, or an order of court, or a judge thereof made on such notice to such surety or sureties as such court or judge may direct; provided, however, that such agreement shall not in any manner release from or change the liability of the principal or sureties as established by the terms of the said bond.


Laws 1959, p. 81, § 1, emerg. eff. June 30, 1959.
18 Okl. St. Ann. § 491, OK ST T. 18 § 491
Current with legislation of the First Regular Session of the 59th Legislature (2023) and the First Extraordinary Session of the 59th Legislature (2023). Some sections may be more current, see credits for details.
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