Form 08-100 - Surety Bond - Alaska Department Of Community And Economic Development

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STATE OF ALASKA
DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
DIVISION OF BANKING, SECURITIES, AND CORPORATIONS
SURETY BOND
as principal and
___________________________________________________,
_____________________________________, a corporation organized under the laws of
the State of ___________________________, as surety, agree to be firmly bound to the State of
Alaska for the benefit of interested persons in the penal sum of
$_______________, lawful money of the United States, and agree to bind ourselves, jointly and
severally, our heirs, executors, administrators, successors, and assigns.
The principal has made application to the Administrator of Securities of the State of
Alaska to act as a state investment adviser, as defined under the Alaska Securities Act, and is
required to furnish a bond in the sum set out above, subect to the following conditions:
1.
Any person who suffers any damages and has a cause of action under AS
45.55.930 in connection with the principal’s business as a state investment adviser, other than
criminal actions, in addition to any other remedies available, may bring an action in the person’s
own name for the recovery of damages, provided that the action is brought within the applicable
statute of limitations.
The total aggregate liability of the surety under the bond is limited to the amount
2.
set out above
.
3.
The surety or sureties may cancel this bond and be relieved of further liability by
delivering to the Administrator 30 days notice of cancellation, however, cancellation shall not
affect any liability incurred prior to the termination of the 30-day period.
4.
This bond shall remain in effect until the surety or sureties are released from
liability by the Administrator or until the bond is cancelled as provided above.
5.
In the event either the principal or surety is served with notice of any action
commenced against one or the other or both under the bond, they shall each give notice to the
Administrator, Department of Community and Economic Development, P.O. Box 110807, Juneau,
Alaska 99811-0907.
The parties each warranty that they have the requisite authority to execute this
document on the dates set forth below:
_________________
_____________________________________
Date
Principal
_________________
_____________________________________
Date
Principal
08-100 (10/99)

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