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| Home > Statutes > Usa Arizona |
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USA Statutes : arizona
Title : Bonds
Chapter : SURETY BONDS
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7-101 Execution of bond; sureties
When a bond or undertaking is required by law to be given for the faithful
performance of a duty or obligation, or required to be given in a judicial proceeding in
a court of this state, the bond shall, unless otherwise specified by the law requiring
it, be executed by the principal and at least two sureties. The sureties shall be
residents and freeholders or householders within this state and, unless acting as surety
for state officers, of the county in which the bond is given. Each surety shall justify
by affidavit stating that he is worth the amount specified in the bond over and above his
just debts and liabilities, exclusive of property exempt from execution.
7-102 Qualification of sureties
A bond shall not be approved if executed by individual sureties unless the sureties
appear upon the tax roll of the county for an amount at least equal to the penalty of any
other judicial bonds upon which they may already be sureties. If a surety is married,
the bond shall be signed by both husband and wife.
7-103 Corporate surety; power of attorney;fee
A. When a bond or undertaking conditioned upon the faithful performance of a duty,
or upon doing or refraining from doing anything in the bond or undertaking specified, is
by the laws of this state required or permitted to be given with surety, the execution or
the guaranteeing of the performance of the condition shall be sufficient when executed or
guaranteed solely by a corporation incorporated under the laws of the United States, or
of any state, authorized to execute the bond or undertaking within this state, if the
bond or undertaking is approved by the court, body or person required to approve or
accept it. An officer or person having the power of approval of a bond shall not exact
that it be furnished by a surety company or by a particular surety company.
B. The corporate surety shall file with the clerk of the superior court a power of
attorney for each agent of such surety appointed to execute a bond in its behalf. A fee
established pursuant to section 12-284 for each such filing shall be paid to the clerk of
the superior court.
7-104 Bonds payable to state
Any bond or undertaking given by a trustee, receiver, assignee or officer of a court
in any action or proceeding for the faithful discharge of his duties, where it is not
otherwise provided, shall be payable to the state, and upon leave of the court where the
action or proceeding is pending, may be prosecuted for the benefit of any and all persons
interested therein.
7-105 Bail undertaking in a criminal action aslien
A. A bail undertaking in a criminal action, or after conviction of a defendant, or
upon appeal therefrom shall be a lien on any real property described therein from the
time of recording such undertaking in the office of the county recorder of the county in
which the property is located.
B. Upon filing an order with the county recorder of the county where the property
is located canceling the undertaking the lien shall be discharged.
7-106 Deposit in lieu of bond
A. In a civil or criminal matter or proceeding when a bond is required of a party,
he may, instead of giving the bond, deposit with the court lawful money of the United
States in the sum required in the bond, which shall be accepted in lieu of the bond. If
the party has given bond, he may, before its forfeiture, deposit the sum mentioned in the
bond, whereupon the bond shall be exonerated. A party having deposited money in lieu of
giving bond, may, before its forfeiture, withdraw the money upon the giving and approval
of a sufficient bond.
B. When money has been deposited and remains on deposit at the time of judgment or
disposition of the matter, and thereby has become liable to the satisfaction thereof, the
money shall, under the direction of the court, be applied in the same manner and to the
same extent as if it had been recovered upon a bond given for that purpose. Where an
appeal is taken and money has been deposited in lieu of a bond, the deposit shall be
disposed of in the same manner as if it were a bond filed in the proceeding.
7-107 Sufficiency of bond; objection
In an action or proceeding in a state court, when a bond is required or permitted to
be given, the adverse party may object to its sufficiency at any time within three days
after receiving notice of giving the bond, by serving the adverse party, or the officer
who takes the bond, with a written notice that he does not accept the bond. A failure to
serve the notice shall be deemed an acceptance of the bond, and the officer taking it
shall be exonerated from liability.
7-108 Notice of justification
The party or officer receiving the notice provided for in section 7-107 shall,
within three days, serve the opposite party with a notice in writing that the sureties on
the bond, or other sureties will justify before an officer authorized to approve the
bond, and the time and place when and where the sureties will justify.
7-109 Sureties; examination on sufficiency;attorney of party ineligible as surety
Each of the sureties shall attend before the officer at the time and place mentioned
in the notice provided for in sections 7-107 and 7-108 and may be examined on oath
touching his sufficiency in such manner as the officer deems proper. If the officer
finds the sureties sufficient he shall endorse his allowance on the bond and cause it to
be filed with the clerk or justice. No bond shall be allowed or approved wherein any
attorney of record of either party to the action or proceeding is a surety.
7-110 Joint control of assets secured bybond
A. Any party of whom a bond, undertaking or other obligation is required and his
surety may make an agreement providing for the safekeeping of any monies or assets for
which he and his surety are or may be responsible by depositing them with a bank, savings
bank, safe-deposit or trust company authorized by law to do business as such or with any
other depository approved by the court if the deposit is otherwise proper. The agreement
may provide that the withdrawal of the monies or assets or any part thereof may be made
only with the written consent of the surety or upon order of court made on such notice to
the surety as the court may direct.
B. The agreement authorized by subsection A shall not in any manner release from or
change the liability of the principal or surety as established by the terms of the bond.
7-121 Irresponsible surety; procedure
In all actions or proceedings in which an injunction, attachment or garnishment bond
is executed, the defendant may at any time present to the court a statement in writing,
under the oath of the defendant or his agent or attorney, that the sureties or a surety
on the bond was at the time of becoming a surety, not responsible as such surety, or has
become irresponsible since the execution of the bond. Thereupon the court shall cause a
notice of the statement to be served upon the plaintiff, and shall cite the plaintiff to
appear and show cause within five days after the service of notice why the plaintiff
should not be required to execute a new and sufficient bond.
7-122 Hearing on sufficiency
The court shall summarily hear the issue upon the sufficiency of the bond, and if
the court finds the sureties or any thereof to be insufficient, the injunction,
attachment or garnishment shall be dissolved, unless the plaintiff shall within five days
file a proper and sufficient bond and it is approved by the court or judge.
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