Oregon Statutes 125.415 – Termination of bond by surety
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(1) A surety may cancel the obligation of the surety upon notice in writing to the conservator and the court. The notice shall specify an effective date for the cancellation that is not less than 30 days after the date of the notice.
Terms Used In Oregon Statutes 125.415
- Conservator: means a person appointed as a conservator under the provisions of this chapter. See Oregon Statutes 125.005
- 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.
(2) A surety’s obligation under a bond shall continue until court approval of an accounting covering the period during which the bond was effective and an order is entered releasing the sureties. [1995 c.664 § 37]
(Conservator’s Powers and Duties)