§9307 — Title 31 Money and Finance | U.S. Code

Summary

A surety corporation that issues a bond under section 9304 can be sued in a U.S. district court either where the bond was issued or where the company’s main office is located. Under sections 9304–9308, a bond is treated as issued in the district of the company’s main office, the district the bond is returnable to, the district where it is filed, and the district where the person who had to give the bond lived when it was given. In any such lawsuit, the surety may not deny it had the authority to issue the bond or to be held liable.

Title 31, §9307

Money and Finance — Source: USLM XML via OLRC

(a)(1)A surety corporation providing a surety bond under section 9304 of this title may be sued in a court of the United States having jurisdiction of civil actions on surety bonds in—

(A)the judicial district in which the surety bond was provided; or

(B)the district in which the principal office of the corporation is located.

(2)Under section 9304–9308 of this title, a surety bond is deemed to be provided in the district—

(A)in which the principal office of the surety corporation is located;

(B)to which the surety bond is returnable;

(C)in which the surety bond is filed; and

(D)in which the person required to provide a surety bond resided when the bond was provided.

(b)In a proceeding against a surety corporation providing a surety bond under section 9304 of this title, the corporation may not deny its power to provide a surety bond or to assume liability.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 9307(a)6:10. 9307(b)6:12. In subsection (a)(1), before clause (A), the words “corporation providing a surety bond” are substituted for “company doing business” for consistency. The words “in respect thereof” are omitted as surplus. The words “civil actions on surety bonds” are substituted for “actions or suits upon such recognizance, stipulation, bond, or undertaking” for consistency. In clause (A), the words “the surety bond was provided” are substituted for “such recognizance, stipulation, bond, or undertaking was made or guaranteed” for consistency. In subsection (a)(2), before clause (A), the words “a surety bond is deemed to be provided” are substituted for “such recognizance, stipulation, bond, or undertaking shall be treated as made or guaranteed” for consistency. In clause (A), the words “principal office of the surety corporation” are substituted for “office” for clarity and consistency. In clause (D), the words “person required to provide a surety bond resided when the bond was provided” are substituted for “principal in such recognizance, stipulation, bond, or undertaking resided when it was made or guaranteed” for consistency. Subsection (b) is substituted for 6:12 to eliminate unnecessary words and for consistency.

§9307 Civil actions and judgments against surety corporations

Summary

Title 31, §9307

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata