31 U.S.C. § 9308
Civil penalty
A surety corporation is liable to the United States Government for a civil penalty of at least $500 but not more than $5,000 for violating section 9304, 9305, or 9306 of this title. A civil action under this section may be brought in a judicial district in which a civil action may be brought against the corporation under section 9307 of this title. A penalty imposed under this section does not affect the validity of a contract made by the surety corporation.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2022–2022 · leading case: Colorado Div. of Ins. v. Statewide Bonding, Inc. (Colo. Ct. App. 2022).
Colorado Div. of Ins. v. Statewide Bonding, Inc. (Colo. Ct. App. 2022). “§ 9306 , which addresses when a surety may issue sureties outside the state in which it is incorporated or has its principal office; and (3) 31 U.S.C. § 9308 , which authorizes the federal government to impose sanctions against those who violate the previously discussed statutes.”
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