Arkansas Statutes
§ 23-63-1003 — Insurer's rights as surety same as individual's
Arkansas·Title 23
(a)A surety insurer authorized as such under the Arkansas Insurance Code shall have the same power and authority to become surety upon all bonds required by law or desired by contracting parties and shall be vested with the same rights and be subject to all the liabilities as individuals who become sureties on the bonds or contracts.
(b)A surety insurer which is surety upon any bond or contract may be released from its liability thereon on the same terms and conditions as are by law prescribed for the release of individuals as sureties.
Free access — add to your briefcase to read the full text and ask questions with AI
Arkansas § 23-63-1003 (Insurer's rights as surety same as individual's) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1959, No. 148, § 451; A.S.A. 1947, § 66-4103.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
Citizens band radio equipment