§ 2.60.020. Surety company requirements

Latest version.

The surety on any official bond subject to the approval of the City Manager shall be an incorporated surety company licensed to do business in the Commonwealth unless the City Manager shall be satisfied that a satisfactory surety of this character cannot be obtained at a reasonable premium, in which case he may accept individuals as sureties. Officers or employees required to furnish such official bonds shall further be required to give new bonds satisfactory to the City Manager whenever required by him so to do.

(Prior code § 2-198)

                    
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