§ 4-8-7 - Liability of sureties. - Rhode Island Statutes

SECTION 4-8-7

   § 4-8-7  Liability of sureties. – Every surety given in accordance with the provisions of this chapter shall beliable, in the first instance, for the payment of all claims arising during thelicense period for which the surety continues, and filed either during thatperiod or within ninety (90) days after the expiration. If all claims shall bepaid, the balance of the liability of each surety shall be devoted to theextinguishment ratably of claims arising during that license period, but forwhich statement shall not have been filed until ninety (90) days after theexpiration of that period.