The department, upon petition filed by any person who is surety on any such bond as aforesaid and who considers himself in danger of being injured by such suretyship, shall notify the person giving such bond to give a new bond with other sureties and upon failure of such person to do so within thirty days shall cause such person to suspend further operations until a new bond be given. In no case shall the sureties on the old bond be discharged from liability thereon until the new bond has been executed and approved, and such sureties shall not be discharged from any antecedent liability by reason of such suretyship.
HISTORY: 1962 Code Section 1-371; 1952 Code Section 1-371; 1942 Code Section 2222; 1932 Code Section 2222; Civ. C. '22 Section 159; Civ. C. '12 Section 152; Civ. C. '02 Section 145; R. S. 101; 1883 (18) 304; 2014 Act No. 121 (S.22), Pt V, Section 7.M, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, Section 7.M, substituted "department" for "board", and in the second sentence, deleted "But" before "in no case".