- (A) A claim on a surety bond issued pursuant to Section 40-11-262 shall be filed directly with the surety company by the claimant on a claim form approved by the Board. A claimant is not required to receive authorization from the Board to file a bond claim. Claims are limited to the acts or omissions referenced in Section 40-11-262(B)(3), are for actual damages, and do not include attorney’s fees incurred by or punitive damages awarded to the claimant.
- (B) All liability on a surety bond is applicable to the surety bond in effect as of the date of occurrence which gave rise to the liability.
HISTORY: Added by SCSR 43-5 Doc. No. 4849, eff May 24, 2019.