Surety Bond

Surety Bond. A surety bond from a surety qualified to do business in the State of Mississippi is a statutory pre-condition to the issuance of a permit to any applicant. If the said bond is cancelled by the surety during the effective term or period of the permit, it shall be the duty of the principal (Permitee), without noticed from the Secretary of State, to forthwith respond to the statutory bonding requirement to furnish a new and acceptable bond to become effective on or before the effe3ctive date of the original bond. Failing in that, Secretary of State will give the principal (Permitee) not less than fifteen days notice to be and appear at a hearing he shall call for that purpose to show cause, if for the cancellation of the original bond.