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Alaska Statutes.

Title 8. Business and Professions

Chapter 24. Collection Agencies

Section 160. Form of Bond.

AS 08.24.160. Form of Bond.

The bond required by AS 08.24.140 and 08.24.150 shall be in the form substantially as follows:

BOND

Know all Men by These Presents that we, . . . . . . . . . ., as        

principal, and . . . . . . . . . . . . as surety, are held and firmly

bound to the State of Alaska, in the penal sum of $ . . . . . . . . .,

lawful money of the United States, for the payment of which we bind

ourselves, our heirs, executors, administrators, successors and assigns

jointly and severally.                                                 

The condition of this obligation is such that whereas, the bonded      

principal, named above, has applied to the Department of Commerce,     

Community, and Economic Development of the State of Alaska for a       

collection agency license under the provisions of AS 08.24 and is      

required by the provisions of that law to furnish a bond conditioned as

herein set out.                                                        

Now, therefore, if . . . . . . . . . . ., within 30 days after the

close of each fiscal or calendar month, reports and pays to customers

the net proceeds due and payable of all collections made during that

calendar or fiscal month which exceed $20, and strictly, honestly and

faithfully complies with the provisions of AS 08.24 and all amendments

to it and regulations adopted under it, then this obligation is void,

otherwise to remain in full force and effect.                          

This bond becomes effective on the . . . . . day of . . . . . . ., 2. .

. . The surety may be relieved of future liability under it by giving

60 days' written notice to the principal and to the Department of      

Commerce, Community, and Economic Development of the State of Alaska.

This bond is one continuing obligation and the liability of the surety

for the aggregate of all claims which may arise under it may in no

 event exceed the amount of the penalty set out in it.                 

IN WITNESS WHEREOF we have hereunto set our hands and seals at . . . .

 . . . . ., Alaska, this . . . . day of . . . . . . . ., 2. . .        

                                        (SEAL) . . . . . Principal     

                                        (SEAL) . . . . . . . . Surety  

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005