- Alaska Statutes.
- Title 44. State Government
- Chapter 85. Alaska Municipal Bond Bank Authority
- Section 50. Bonding of Members.
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AS 44.85.050. Bonding of Members.
Before the issuance of bonds or notes under this chapter, each director shall execute a surety bond in the penal sum of
$25,000 and the treasurer shall execute a surety bond in the penal sum of $50,000. Each surety bond shall be
conditioned upon the faithful performance of the duties of the office of the director or treasurer, to be executed by a
surety company authorized to transact business in the state as surety and filed in the office of the lieutenant
governor. After issuance of bonds or notes by the bond bank authority each director shall maintain the surety bond in
force. All costs of the surety bonds shall be borne by the bond bank authority.
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