South Carolina § 38-15-90 Approval of public officer's books and accounts does not release his surety; remedy in case of default.

South Carolina Statutes

§ 38-15-90 — Approval of public officer's books and accounts does not release his surety; remedy in case of default.

South Carolina·Title 38 INSURANCE·Ch. 15 SURETY INSURERS

No insurer is relieved of its liability upon any bond of a city, county, or state officer because the books and accounts of the principal have been examined and approved as correct by the proper authorities when in fact there has been a breach of the bond of the officer and a loss accruing from this breach. In case of default upon the bond, the city, county, or state authorities have all the remedies against the principal and sureties upon the bonds as are provided by law.

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No insurer is relieved of its liability upon any bond of a city, county, or state officer because the books and accounts of the principal have been examined and approved as correct by the proper authorities when in fact there has been a breach of the bond of the officer and a loss accruing from this breach. In case of default upon the bond, the city, county, or state authorities have all the remedies against the principal and sureties upon the bonds as are provided by law.

South Carolina § 38-15-90 (Approval of public officer's books and accounts does not release his surety; remedy in case of default.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Former 1976 Code SECTION 38-13-110 [1947 (45) 322; 1952 Code SECTION 37-611; 1962 Code SECTION 37-611] and SECTION 38-13-120 [1947 (45) 322; 1952 Code SECTION 37-612; 1962 Code SECTION 37-612] recodified as SECTION 38-15-90 by 1987 Act No. 155, SECTION 1.