§78-20  Sureties.  Whenever by any law,regulation, ordinance, rule or order of court, or any rule of any department ofthe state government or of any subdivision thereof, any person shall berequired to give any written bond or undertaking for the performance of anycontract or the provisions of any license, or for the indemnity or security ofany person, party or any officer, there shall be attached to the bond orundertaking an affidavit of each of the sureties thereon, duly verified byoath, from which it shall appear that the sureties have property situate withinthe State subject to execution and that the sureties taken together are worthin the property the amount of the penalty specified in the bond or undertaking,over and above all of their debts and liabilities.  In default of thejustification no bond or undertaking shall be accepted.  Notwithstanding anyprovision requiring two or more sureties, if any such bond or undertaking isexecuted by the principal and by any corporation, organized for the purpose ofbecoming surety on such bonds, authorized under the laws of the United Statesor of the State to act as surety, and doing business in the State under theprovisions of the laws of the United States or of the State, if a foreigncorporation, and under the laws of the State, if a Hawaiian corporation, thecorporation may be accepted as sole surety on the bond, whenever, in theopinion of the officer or officers whose duty it is to approve the bond, therights of all parties in interest will be fully protected.  When the surety onany such bond is a corporation authorized to do a surety company business, nojustification shall be required.

Nothing herein shall be deemed to prevent thedeposit of cash or other security in lieu of any surety or sureties, whenpermitted by the law, regulation, ordinance, rule or order concerned. [L 1915,c 197, §1; am L 1917, c 78, §1; RL 1925, §161; am L 1931, c 163, §1; RL 1935,§160; RL 1945, §497; RL 1955, §7-21; HRS §78-20; am L 1973, c 32, §1]

 

Case Notes

 

  This section controls all surety affidavits.  30 H. 658.

  Guarantee of corporation not ultra vires, when.  32 H. 667.

  One surety sufficient.  33 H. 265.

  Justification requirements.  33 H. 311.

  Rights.  33 H. 545.

  Subrogation.  33 H. 607.

  Liability.  33 H. 632.