Any provision in this title that requires a person to post a surety bond to guarantee the performance of a legal obligation is subject to the provisions of section 35-155 pertaining to accepting a cash deposit as an alternative to a surety bond.

Terms Used In Arizona Laws 20-116

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
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