61-5A-16. Liability of surety on bond on failure of organization to pay.
Failure by any organization covered by a bond required by §61-5A-12 to pay the full amount of payments in lieu of contributions when due, together with any applicable interest and penalties provided for in §61-5A-33, shall render the surety liable on said bond to the extent of the bond, as though the surety was such organization.
Source: SL 1971, ch 276, §68.