Page:United States Statutes at Large Volume 58 Part 1.djvu/840

 PUBLIC LAWS-CH. 611-DEC. 20 ,1944 Regulation of surety bonds respecting des- ignated businesses. Right of surety to terminate liability. Effect If new bond not filed. Notification of pay- ment by surety. Insolvency, etc., of surety. Filing of new bond. Recovery on bond, restoration. Remedies of ag- grieved party. Limitation on surety's liability. Certified copy of bond. (b) To make, adopt, and enforce regulations requiring persons, firms, and corporations, other than utility companies, engaged within the District of Columbia in the business of plumbing or gas fitting, or of installing, maintaining, or repairing heating, ventilating, air- conditioning, or mechanical refrigerating apparatus, equipment, appli- ances, systems, or parts thereof, or of installing, maintaining, or repairing apparatus, equipment, ixtures, appliances, or wiring, using or conducting electric current, to furnish and keep in force a bond running to the District of Columbia with corporate surety authorized by the Secretary of the Treasury to do business pursuant to section 3 of the Act of August 13, 1894 (28 Stat. 279), as amended (U. S . C., title 6, sec. 8), and by the Insurance Department of the District of Columbia to do business in the District of Columbia in an amount not exceeding $5,000, conditioned upon the performance in accordance with law and regulations in force in the District of Columbia of all such work undertaken by such person, firm, or corporation, and to keep the District of Columbia harmless from the consequences of any and all acts performed by said person, firm, or corporation in con- nection with such business during the period covered by the said bond. The surety on any such bond may terminate its liability under such bond by giving thirty days' written notice thereof, served either personally or by registered mail, to the principal and to the Com- missioners; and upon giving such notice the surety shall be dis- charged from all liability under such bond for any act or omission of the principal occurring after the expiration of thirty days from the date of service of such notice. Unless on or before the expiration of such period the principal shall duly file a new bond in like amount and conditioned as the original in substitution of the bond so terminated, the license of the principal to engage in such business shall likewise terminate upon the expiration of such period. Upon making any payment on account of its bond, the surety shall imme- diately notify the Commissioners. In the event the surety becomes insolvent or a bankrupt, or ceases to be authorized by the Secretary of the Treasury to do business pursuant to section 3 of the Act of August 13, 1894 (28 Stat. 279), as amended (U. S . C ., title 6, sec. 8), or by the Insurance Depart- ment of the District of Columbia to do business in the District of Columbia, the principal shall, within ten days after notice thereof given by the Commissioners duly file a new bond in like amount and conditioned as the original and if the principal shall fail to do so the license of such principal shall terminate. If a recovery be had on any bond the principal shall restore the bond to its original amount. Any person aggrieved by the violation of any law or regulation in force in the District of Columbia relating to such business shall have, in addition to his right of action against said person, firm, or corporation, a right to bring suit against the surety on said bond, either alone or jointly with the principal thereon, and to recover in an amount not exceeding the penalty of the bond any damages sus- tained by reason of any act, transaction, or conduct of the principal which is in violation of law or regulation in force in the District of Columbia relating to such business: Provided,however, That nothing in this section shall be construed to impose upon the surety on any such bond a greater liability than the total amount thereof or the amount remaining unextinguished by any prior recovery or recoveries as the case may be. The Commissioners shall furnish to anyone applying therefor a certified copy of any such bond filed with them upon the payment of a fee to be fixed by the Commissioners therefor, and such certified 820 [58 STAT.

�