Arizona Laws 38-257. Justification of sureties; officers ineligible as sureties
A. The officer whose duty it is to approve the bond shall not accept or approve it unless the sureties severally justify as required by law.
Terms Used In Arizona Laws 38-257
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes both real and personal property. See Arizona Laws 1-215
B. A member of the board of supervisors shall not be accepted as surety upon the official bond of any county or precinct officer of the county, nor shall the sheriff, treasurer, recorder, assessor or county attorney of the same county become sureties upon official bonds for each other.
C. Officers shall not approve any bond when the financial standing and ability of the sureties thereon are unknown to them, or when any of the sureties thereon are assessed for the current year for taxes upon property the aggregate value of which is less than the amount for which the surety becomes liable upon the bond, unless either:
1. The surety is first examined under oath before the officer authorized to approve the bond concerning the surety’s ability to respond in damages.
2. The approving officer, upon examination and after diligent inquiry into the assets and liabilities of the proposed surety, is satisfied that the proposed surety is good and possesses ample means to respond in double the amount for which the surety proposes to become liable upon the bond.