(a) The surety shall inform the attorney general in writing of all claims against the bond lodged directly with the surety and all sums paid against the bond.

Terms Used In Alaska Statutes 45.30.025 - Surety's liability and right to cancel bond

  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • writing: includes printing. See Alaska Statutes 01.10.060

(b) The surety on the bond is not liable in an aggregate amount in excess of that named in the bond.

(c) Nothing in this chapter impairs the right of a surety to cancel its bond for lawful reasons; however, a cancellation does not extinguish the surety’s liability on the bond for mobile homes previously delivered to buyers in the state.