Bill Text: MN HF1118 | 2013-2014 | 88th Legislature | Introduced

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Bill Title: Bond security requirements modified.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2013-05-24 - Secretary of State Chapter 119 [HF1118 Detail]

Download: Minnesota-2013-HF1118-Introduced.html

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A bill for an act

relating to bonds; modifying requirements for bond security;amending
Minnesota Statutes 2012, section 574.01.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. Minnesota Statutes 2012, section 574.01, is amended to read:
574.01 BONDS, REQUISITES AND EXECUTION.
Save when otherwise specially provided by statute, every bond, recognizance, or
undertaking required or permitted to be made, given, tendered, or filed for the security or
protection of the state, or of any person, corporation, municipality, or department thereof,
or any other organization whatever and conditioned for the doing or not doing of anything
in such instrument of security specified, shall be signed by two one or more sureties, who
shall be residents and freeholders of the state, and justify as provided in section 574.12.
Every bond or recognizance shall also be signed by the principal, and every bond shall be
acknowledged by the principal and sureties.