Maine § 30-A §5601 Bond

Maine Statutes

§ 30-A §5601 — Bond

Maine·Title 30-A MUNICIPALITIES AND COUNTIES·Part 2 MUNICIPALITIES·Ch. 221 MUNICIPAL TREASURER

Before assuming the duties of office, the treasurer must give a surety bond to the municipality subject to the following provisions.

1.Condition. The bond shall be conditioned on the treasurer's faithful discharge of all the duties of office.

2.Type. The bond may be a corporate surety bond or an individual surety bond.

3.Amount. The bond need not be for more than twice the amount of taxes to be collected during the municipal year.

4.How paid. The municipality shall pay for the bond.

5.Sufficiency. The municipal officers are the sole judges of the sufficiency of the bond and sureties.

6.Recorded. After the municipal officers approve the bond, the clerk shall record the bond.

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Before assuming the duties of office, the treasurer must give a surety bond to the municipality subject to the following provisions.
1.
Condition.
The bond shall be conditioned on the treasurer's faithful discharge of all the duties of office.
2.
Type.
The bond may be a corporate surety bond or an individual surety bond.
3.
Amount.
The bond need not be for more than twice the amount of taxes to be collected during the municipal year.
4.
How paid.
The municipality shall pay for the bond.
5.
Sufficiency.
The municipal officers are the sole judges of the sufficiency of the bond and sureties.
6.
Recorded.
After the municipal officers approve the bond, the clerk shall record the bond.