35.07.110  <<  35.07.120 >>   35.07.130


The receiver must qualify within ten days after he or she has been declared elected, by filing with the county auditor a bond equal in penalty to the audited indebtedness and the established liabilities of the city or town with sureties approved by the board of county commissioners, or if the board is not in session, by the judge of the superior court of the county. The bond shall run to the state and shall be conditioned for the faithful performance of his or her duties as receiver and the prompt payment in the order of their priority of all lawful claims finally established as the funds come into his or her hands to discharge them. The bond shall be filed with the county auditor and shall be a public record and shall be for the benefit of every person who may be injured by the receiver's failure to discharge his or her duty.
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