§ 9309. — Priority of sureties.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 31USC9309]
TITLE 31--MONEY AND FINANCE
SUBTITLE VI--MISCELLANEOUS
CHAPTER 93--SURETIES AND SURETY BONDS
Sec. 9309. Priority of sureties
When a person required to provide a surety bond given to the United
States Government is insolvent or dies having assets insufficient to pay
debts, the surety, or the executor, administrator, or assignee of the
surety paying the Government the amount due under the bond--
(1) has the same priority to amounts from the assets and estate
of the person as are secured for the Government; and
(2) personally may bring a civil action under the bond to
recover amounts paid under the bond.
(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 1049.)
Historical and Revision Notes
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Revised Section Source (U.S. Code) Source (Statutes at Large)
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9309................................. 31:193. R.S. Sec. 3468.
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In the section, before clause (1), the words ``person required to
provide a surety bond'' are substituted for ``principal in any bond''
for clarity and consistency. The words ``dies having assets insufficient
to pay debts'' are substituted for ``whenever, such principal being
deceased, his estate and effects which come to the hands of his
executor, administrator, or assignee, are insufficient for the payment
of his debts'' to eliminate unnecessary words. The words ``and, in
either of such cases'', ``on the bond'', and ``such surety, his
executor, administrator, or assignee'' are omitted as unnecessary.
Clause (1) is substituted for ``shall have the like priority for the
recovery and receipt of the moneys out of the estate and effects of such
insolvent or deceased principal as is secured to the United States'' to
eliminate unnecessary words and for clarity. In clause (2), the words
``and maintain'' are omitted as surplus. The words ``civil action'' are
substituted for ``suit'' for consistency. The words ``in law or equity''
are omitted as surplus.
Section Referred to in Other Sections
This section is referred to in title 22 section 1631g; title 50 App.
section 34.
