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Arizona Surety Bond Requirements For Conflicting Lease Agreements

by Surety Admin 5. September 2010 02:01
Arizona HB 2146 revises the law for filing a conflicting lease application on state lands to require a surety bond or other security from the applicant filing the conflicting application. Such applications are filed for lands already under a lease agreement. The lease terms are for up to ten years. The surety bond must be in an amount equal to $2,500 or 20% of the rental payments over the term of the current lease, whichever is greater. ENACTED: 04/23/2010
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Surety Blog Categories:  Commercial Bonds | Surety Law Changes | Misc Bond Information

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