Sec. 10. Surety Bonds: Approval. The commission shall keep a surety bond filed under this title safely in its files. The commission shall not approve a surety bond unless the surety company is solvent and qualified to do business in this state. The commission, before approving a surety bond, shall require the commissioner of the department of insurance to furnish to the commission copies of reports of the surety company and other information concerning the reserves and reliability of the company.

[Pre-1973 Recodification Citations: 7-1-1-41; 7-1-1-42(f).]

Formerly: Acts 1973, P.L.55, SEC.1.