Any surety desiring to be relieved from the bond of a state depository may give notice in writing to the Governor of such desire with the reasons therefor; and the Governor shall have authority, in his discretion, to relieve the surety. The consent of the cosureties first must be obtained in writing; and the principal must furnish a new surety to take the place of the surety relieved, which new surety will assume all the liabilities for past and future transactions.
(Ga. L. 1882-83, p. 138, § 3; Civil Code 1895, § 988; Civil Code 1910, § 1255; Code 1933, § 100-107.)
RESEARCH REFERENCES
C.J.S.
- 26B C.J.S., Depositaries, §§ 67 et seq., 91.
ALR.
- Depository's bond as covering deposits made before its execution, 98 A.L.R. 1312.