Alabama § 8-6-59 Bonds of Director and Employees

Alabama Statutes

§ 8-6-59 — Bonds of Director and Employees

Alabama § 8-6-59

Title 8Commercial Law and Consumer Protection

Ch. 6Securities

Art. 2Securities Commission

This text of Alabama § 8-6-59 (Bonds of Director and Employees) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 8-6-59 (2026).

Text

(a)Before assuming office, the Director of the Securities Commission shall give a bond in the sum of $50,000, payable to the State of Alabama, to be approved by the Attorney General of Alabama and filed in the office of the Secretary of State. Such bond shall be conditioned that he will faithfully execute the duties of his office.

(b)The director may by rule or order require any employee of the commission to be bonded on the same condition and in the same or such lesser amount as he determines.

(c)The expense of all such bonds shall be paid from funds available to the commission.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Before assuming office, the Director of the Securities Commission shall give a bond in the sum of $50,000, payable to the State of Alabama, to be approved by the Attorney General of Alabama and filed in the office of the Secretary of State. Such bond shall be conditioned that he will faithfully execute the duties of his office.
(b) The director may by rule or order require any employee of the commission to be bonded on the same condition and in the same or such lesser amount as he determines.
(c) The expense of all such bonds shall be paid from funds available to the commission.