- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 30. Sales of Mobile Homes
- Section 25. Surety's Liability and Right to Cancel Bond.
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. Duties of Department. [Repealed, Sec. 5 Ch 123 SLA 1972].
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. Administration. [Repealed, Sec. 5 Ch 104 SLA 1980].
AS 45.30.025. Surety's Liability and Right to Cancel Bond.
- (a) The surety shall inform the attorney general in writing of all claims against the bond lodged directly with the surety
and all sums paid against the bond.
- (b) The surety on the bond is not liable in an aggregate amount in excess of that named in the bond.
- (c) Nothing in this chapter impairs the right of a surety to cancel its bond for lawful reasons; however, a cancellation
does not extinguish the surety's liability on the bond for mobile homes previously delivered to buyers in the state.
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