AI-assisted research summary: This Act lets certain people use a guarantee company’s bond, policy, or guarantee contract instead of a bond with sureties, and it says the company does not have to justify.
1 GUARANTEE COMPANIES SECURITIES c G-9 The Guarantee Companies Securities Act being Chapter G‑9 of The Revised Statutes of Saskatchewan, 1978 (effective February 26, 1979) as amended by The Revised Statutes of Saskatchewan, 1978 (Supplement), c 26; and 2021, c 29. Table of Contents 1 Short title 2 Interpretation 3 Bonds taken 4 Bonds given 5 Justification 6 Bonds substituted 7 Interim receipt 8 Repealed NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and the original statutes and regulations should be consulted for all purposes of interpretation and application of the law. In order to preserve the integrity of the original statutes and regulations, errors that may have appeared are reproduced in this consolidation. 2 c G-9 GUARANTEE COMPANIES SECURITIES CHAPTER G-9 An Act respecting Security by Guarantee Companies Short title 1 This Act may be cited as The Guarantee Companies Securities Act. Interpretation 2 In this Act “guarantee company” means an incorporated company licensed under The Saskatchewan Insurance Act and empowered to grant guarantees, bonds, policies or contracts for the integrity and fidelity of employed persons, or in respect of any legal proceedings, or for other like purposes, and includes Saskatchewan Government Insurance if so empowered. RSS 1978, c G‑9, s 2; RSS 1978 (Supp.), c 26, s 3; 2021, c 29, s 5. Bonds taken 3 Where a judge, functionary, officer or person is entitled or required to take security by bonds with sureties, he may in lieu thereof take the bond, policy or guarantee contract of a guarantee company of the like nature and effect. RSS 1978, c G‑9, s 3. Bonds given 4 Where a person is required to give security by bond with sureties, he may in lieu thereof furnish the bond, policy or guarantee contract of a guarantee company of the like nature and effect. RSS 1978, c G‑9, s 4. Justification 5 The guarantee company shall not be bound or required to justify. RSS 1978, c G‑9, s 5. Bonds substituted 6 The bond, policy or guarantee contract of a guarantee company may be taken instead of or in substitution for any existing security if the judge, functionary, officer or person mentioned in section 3 sees fit and so directs, and when taken the existing security shall be delivered up to be cancelled. RSS 1978, c G‑9, s 6. Interim receipt 7 The interim receipt of a guarantee company may be accepted in lieu of a bond, policy or guarantee contract, but the latter shall be furnished within one month. RSS 1978, c G‑9, s 7. 8 Repealed. RSS 1978 (Supp.), c 26, s 4. REGINA, SASKATCHEWAN Printed by the authority of THE QUEEN’S PRINTER Copyright©2021