US Codex
U.S.C.
Notes

§9304. Surety corporations — Inbound Citations

31 U.S.C. § 9304

Cited by 10 provisions in release 119-102.

Citations to 31 U.S.C. § 9304 as a whole

  • 5 U.S.C. § 8478(c)(2)
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    (2) shall have as surety thereon a corporate surety company which is an acceptable surety on Federal bonds under authority granted by the Secretary of the Treasury pursuant to sections 9304 through 9308 of title 31; and
  • 31 U.S.C. § 9305(a)
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    (a) Before becoming a surety under section 9304 of this title, a surety corporation must file with the Secretary of the Treasury—
    (1) a copy of the articles of incorporation of the corporation; and
    (2) a statement of the assets and liabilities of the corporation signed and sworn to by the president and secretary of the corporation.
  • 31 U.S.C. § 9305(b)
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    (b) The Secretary may authorize in writing a surety corporation to provide surety bonds under section 9304 of this title if the Secretary decides that—
    (1) the articles of incorporation of the corporation authorize the corporation to do business described in section 9304(a)(2) of this title;
    (2) the corporation has paid-up capital of at least $250,000 in cash or its equivalent; and
    (3) the corporation is able to carry out its contracts.
  • 31 U.S.C. § 9305(d)(1)
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    (1) shall revoke the authority of a surety corporation to do new business if the Secretary decides the corporation is insolvent or is in violation of this section or section 9304 or 9306 of this title;
  • 31 U.S.C. § 9305(e)
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    (e) A surety corporation providing a surety bond under section 9304 of this title may not provide any additional bond under that section if—
    (1) the corporation does not pay a final judgment or order against it on the bond; and
    (2) no appeal or stay of the judgment or order is pending 30 days after the judgment or order is entered.
  • 31 U.S.C. § 9306(a)
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    (a) A surety corporation may provide a surety bond under section 9304 of this title in a judicial district outside the State, the District of Columbia, or a territory or possession of the United States under whose laws it was incorporated and in which its principal office is located only if the corporation has a resident agent for service of process for that district. The resident agent—
    (1) may be an official of the State, the District of Columbia, the territory or possession in which the court sits who is authorized or appointed under the law of the State, District, territory or possession to receive service of process on the corporation; or
    (2) may be an individual who resides in the jurisdiction of the district court for the district in which a surety bond is to be provided and who is appointed by the corporation as provided in subsection (b)1
  • 31 U.S.C. § 9307(a)(1)
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    (1) A surety corporation providing a surety bond under section 9304 of this title may be sued in a court of the United States having jurisdiction of civil actions on surety bonds in—
    (A) the judicial district in which the surety bond was provided; or
    (B) the district in which the principal office of the corporation is located.
  • 31 U.S.C. § 9307(b)
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    (b) In a proceeding against a surety corporation providing a surety bond under section 9304 of this title, the corporation may not deny its power to provide a surety bond or to assume liability.
  • 31 U.S.C. § 9308
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    A surety corporation is liable to the United States Government for a civil penalty of at least $500 but not more than $5,000 for violating section 9304, 9305, or 9306 of this title. A civil action under this section may be brought in a judicial district in which a civil action may be brought against the corporation under section 9307 of this title. A penalty imposed under this section does not affect the validity of a contract made by the surety corporation.

Citations to §9304(a)(2)