New Hampshire Revised Statutes 204-C:6 – Surety Required
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Terms Used In New Hampshire Revised Statutes 204-C:6
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- Board: shall mean the housing finance board. See New Hampshire Revised Statutes 204-C:1
- Bonds: shall mean bonds of the authority issued under this chapter, including refunding bonds. See New Hampshire Revised Statutes 204-C:1
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
Before entering into their duties, the members of the board shall obtain a surety blanket bond covering each member in the penal sum of not less than $50,000, the executive director in the penal sum of not less than $100,000, and the other officers and employees of the authority in the penal sum of not less than $50,000. Such surety bond or bonds shall be conditioned upon the faithful performance of the duties of the office covered, shall be executed by a surety company authorized to transact business in this state as surety and shall be approved by the attorney general and filed in the office of the secretary of state. The cost of each such bond shall be paid by the authority.