What is the purpose of a universal appointment bond?
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Read More Answered By: Staff General Counsel |
To ensure that the person appointed to a position of trust fulfills his or her obligations honestly and well.
A party injured by a failure of the appointed person to do fulfill his or her obligations honestly and well would be able to make a claim against the issuer of the bond for up to the limit of the bond, subject to all of the terms and conditions specified in the bond.
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