7-110

7-110. Joint control of assets secured by
bond

A. Any party of whom a bond, undertaking or other obligation is required and his
surety may make an agreement providing for the safekeeping of any monies or assets for
which he and his surety are or may be responsible by depositing them with a bank, savings
bank, safe-deposit or trust company authorized by law to do business as such or with any
other depository approved by the court if the deposit is otherwise proper. The agreement
may provide that the withdrawal of the monies or assets or any part thereof may be made
only with the written consent of the surety or upon order of court made on such notice to
the surety as the court may direct.

B. The agreement authorized by subsection A shall not in any manner release from or
change the liability of the principal or surety as established by the terms of the bond.