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2005 Maine Code - §5601 — Bond
Before assuming the duties of office, the treasurer must give a surety bond to the municipality subject to the following provisions. [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
1. Condition. The bond shall be conditioned on the treasurer's faithful discharge of all the duties of office.[1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
2. Type. The bond may be a corporate surety bond or an individual surety bond.
A. If the bond is an individual surety bond, the surety shall provide the municipal officers with a detailed sworn statement of the surety's personal financial ability. [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).] [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
3. Amount. The bond need not be for more than twice the amount of taxes to be collected during the municipal year.[1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
4. How paid. The municipality shall pay for the bond.[1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
5. Sufficiency. The municipal officers are the sole judges of the sufficiency of the bond and sureties.[1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
6. Recorded. After the municipal officers approve the bond, the clerk shall record the bond.
A. This record is prima facie evidence of the contents of the bond. [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
B. Failure to record the bond is not a defense to an action on it. [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).] [1987, c. 737, Pt. A, §2 (new); Pt. C, §106 (new); 1989, c. 6 (amd); c. 9, §2 (amd); c. 104, Pt. C, §§8, 10 (amd).]
Section History:
PL 1987, Ch. 737, §A2,C106 (NEW).
PL 1989, Ch. 6, § (AMD).
PL 1989, Ch. 9, §2 (AMD).
PL 1989, Ch. 104, §C8,10 (AMD).
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