ALBERT C. RITCHIE, GOVERNOR. 1135

SUE E TY, CASUALTY, LIABILITY AND COMPENSATION

INSURANCE.

SEC. 101. Corporate Surety Bonds Authorized. Whenever
any bond, undertaking, recognizance or other obligation is
by law, or the charter, ordinances, rules or regulations of any
municipality, board, body, organization, court, judge or public
officer, required or permitted to be made, given, tendered or
filed with surety or sureties, and whenever the performance of
any act, duty or obligation, or the refraining, from any act, is
required or permitted to be guaranteed, such bond, undertaking,
obligation, recognizance or guaranty may be executed by a
surety company qualified as hereinafter provided; and such exe-
cution by such company of such bond, undertaking, obligation,
recognizance or guaranty shall be in all respects a full and com-
plete compliance with every requirement of every law, charter,
ordinance, rule or regulation that such bond, undertaking,
obligation, recognizance or guaranty shall be executed by one
surety or by one or miore sureties, or that such sureties shall
be residents or householders or freeholders, or either or both,
or possess any other qualification; and all courts, judges, heads
of departments, boards, bodies, municipalities and public officers
of every character, shall accept and treat such bond, under-
taking, obligation, recognizance or guaranty when so executed
by such company as conforming to and fully and completely
complying with every such requirement of every such law,
charter, ordinance, rule or regulation.

SEC. 102. Qualifications and Surplus. Any company to hp
qualified to act as surety or guarantor in this state, or to transact
any of the classes of business known as casualty, liability or
workmen's compensation insurance, must comply with all the
requirements of this article applicable to insurance companies,
except such requirements as may be inconsistent with those
embraced within the sections under this sub-title, must be
authorized under the laws of the state where incorporated and
under its charter to do the classes of business for which a
license is sought under the laws of this State, and every such
company authorized to write fidelity or surety bonds, or lia-
bility or workmen's compensation insurance, must have good,
available assets of at least one hundred and twenty-five thou-
sand dollars in excess of its capital stock, reserves and all other
liabilities.
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