Section 32-35-83 - Proof of financial responsibility by surety bond--Individual sureties--Amount of bond--Conditions. - South-dakota Statutes

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32-35-83. Proof of financial responsibility by surety bond--Individual sureties--Amount of bond--Conditions. Proof of financial responsibility may be evidenced by the bond of a surety company duly authorized to transact business within this state, or a bond with at least two individual sureties each owning real estate within this state, and together having equities equal in value to at least twice the amount of the bond, which real estate shall be scheduled in the bond approved by a judge of a court of record, which said bond shall be conditioned for payment of the amounts specified in § 32-35-2. Such bond shall be filed with the Department of Public Safety and shall not be cancelable except after ten days' written notice to the department.

Source: SL 1957, ch 212, § 54; SDC Supp 1960, § 44.03A54; SL 2004, ch 17, § 168.

State Codes and Statutes

Statutes > South-dakota > Title-32 > Chapter-35 > Statute-32-35-83

32-35-83. Proof of financial responsibility by surety bond--Individual sureties--Amount of bond--Conditions. Proof of financial responsibility may be evidenced by the bond of a surety company duly authorized to transact business within this state, or a bond with at least two individual sureties each owning real estate within this state, and together having equities equal in value to at least twice the amount of the bond, which real estate shall be scheduled in the bond approved by a judge of a court of record, which said bond shall be conditioned for payment of the amounts specified in § 32-35-2. Such bond shall be filed with the Department of Public Safety and shall not be cancelable except after ten days' written notice to the department.

Source: SL 1957, ch 212, § 54; SDC Supp 1960, § 44.03A54; SL 2004, ch 17, § 168.

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Statutes > South-dakota > Title-32 > Chapter-35 > Statute-32-35-83

32-35-83. Proof of financial responsibility by surety bond--Individual sureties--Amount of bond--Conditions. Proof of financial responsibility may be evidenced by the bond of a surety company duly authorized to transact business within this state, or a bond with at least two individual sureties each owning real estate within this state, and together having equities equal in value to at least twice the amount of the bond, which real estate shall be scheduled in the bond approved by a judge of a court of record, which said bond shall be conditioned for payment of the amounts specified in § 32-35-2. Such bond shall be filed with the Department of Public Safety and shall not be cancelable except after ten days' written notice to the department.

Source: SL 1957, ch 212, § 54; SDC Supp 1960, § 44.03A54; SL 2004, ch 17, § 168.