31 USC 9309 - Priority of sureties

U.S Code last checked for updates: Nov 22, 2024

§ 9309.

Priority of sureties

When a person required to provide a surety bond given to the United States Government is insolvent or dies having assets insufficient to pay debts, the surety, or the executor, administrator, or assignee of the surety paying the Government the amount due under the bond—

(1)

has the same priority to amounts from the assets and estate of the person as are secured for the Government; and

(2)

personally may bring a civil action under the bond to recover amounts paid under the bond.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 1049.)

cite as: 31 USC 9309