31.0311 Bond.

Cite as [A.S.C.A. § 31.0311]

(a) A notary commission shall not be issued until a bond of $500 has been deposited with the Office of the Secretary who shall hold it in a special trust account, separate from that account which is provided for in section 31.0318(b), with payment of said bond funds to any person conditioned upon the notary’s misconduct as defined in section 31.0307(l).

(b) If a notary bond has been exhausted by claims paid out, the Secretary shall suspend the notary’s commission until:

(1) a new bond is obtained by the notary; and

(2) the notary’s fitness to serve the remainder of the commission term is determined by the Secretary.

History: 2008, PL 30-18.