Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1895-01-03

!. l25.-AN ACT ALLOWING FIDELITY INSURANCE
| AND CORPORAL SURETY, AND RELATING THERE
TO.
hereby enacted BY Tie General assembly Of the state Of
rmom:
Eor1oN Any company organized under the laws Of this State
by any other State Government to transact fidelity
and corporate suretyhp and qualified do business
State make contracts OF insurance the fidelity
holding positions Of trust in private or public employ
responsibility and may if accepted and approved BY the
magistrate, obgee or person competent approve such
surety upon the official bond undertaking in civil
cedure any person corporation to the United States to the
of Vermont any county CITY, town. public officer or to
corporation or association public private and also may
surety upon any bond undertaking any person corpora
conditioned upon the performance of duty trust Oh for
doing doing anything said bond specified and upon
to indemnify against loss any person persons who
nsble surety or suetes upon written instrument other
for the performance by Others of any Office employment
trust Where by law two or more suretes are required
any obligation such company is authorized to insure it NAV
sole surety thereon and may be accepted such by the court
rate other officer person authorized approve the s
of such bond undertaking and any provision of the
State requiring surete on bonds to be residents Of this State
not be construed forbid the acceptance Of qualified foreign
oraion joint sole surety any such bond No such
pany shall incur in behalf of any person.
nershp association corporation liability for an amount
than onetenth of its paid up capital unless shall be
from loss thereon beyond that amount by suitable and sufficient
era agreements Of indemnify by deposit with it in pledge
yeynce to it in trust for its protection Of property equal in
be to the of its liability such limit or in such
ty incurred in behalf account of ducary holding
ery trust capacity by such deposit other disposition Of
abe and sufficient portion of the estate held that fur
SALE mortgage pledge other disposition be made thereof
such company approval except by the decree Of court
ing proper jurisdiction.
ANY person, partnership, association corporation
ling property for the benefit of another except when acting
wills allowed trusts created before the passage Of this
make such covenants with the surety urees upon h
M bond shall enable such fduciary said surety o
tiles from loss any provided by section of this act
ded however, that such fducary appointed by the
court within this State the approval of such court
! be obtained to such covenant
s. copy Of such covenant duly acknowledged in the
required for the acknowledgment of deeds of real estate
be filed and recorded follows In the office Of the clerk or
of the court in which such ducary obtained his appoint
not appointed by the decree of court in the pro-
by law for the record Of deeds Of real eate if said
real estate mortgages personal property said
personal property Such records shall be notice
Ind binding on all persons.
C Any money paid any county any corporation duly
nzed and authorized act in this State guaranteeing the
y Of persons and in acting surety bonds any per-
acting surety any official bond given such probate
Be- may be allowed in his discretion charge against the
te in which such bond is required
be-. s. This act shall take effect upon its passage
|pproyed November IN, 1894.