Court Opinions

State Laws

US Code

US Constitution

Deposit in lieu of surety bond - 5 Pa. Cons. Stat. § 1132

Legal Research Home > Pennsylvania Statutes

     § 1132.  Deposit in lieu of surety bond.
        In lieu of the surety bond required by section 1131 (relating
     to promoters and foreign copromoters required to file bonds),
     the promoter may deposit with the department cash, a certified
     check, letter of credit or direct obligations of the United
     States or the Commonwealth of Pennsylvania acceptable to the
     department, in an equivalent amount and subject to the same
     conditions. The security shall not be returned to the promoter
     until one year after the date on which it was deposited with the
     department, unless a surety bond is substituted for the
     security. Upon the expiration of one year from the date on which
     the security was deposited, it shall be returned to the
     depositor if no claim against the deposit is outstanding.

Last modified: November 27, 2007