Joint Control by Sureties
§ 18-8-1 Agreement for joint deposits.
It is lawful for any party, of whom a bond, undertaking, or other obligation is
required, to agree with his or her surety or sureties for the deposit of any or
all money and assets for which he or she and his or her surety or sureties are
or may be held responsible, with a bank, savings banks, safe deposit, or trust
company, authorized by law to do business, or with any other depository
approved by the court or a judge of the court, if the deposit is otherwise
proper, for safekeeping the deposit, and in a manner that prevents the
withdrawal of the money or assets or any part of them, without the written
consent of the surety or sureties, or an order of court, or a judge of the
court, made on a notice to the surety or sureties that the court or judge may
direct; provided, that the agreement shall not in any manner release from or
change the liability of the principal or sureties as established by the terms
of the bond.
History of Section.
(P.L. 1943, ch. 1347, § 1; G.L. 1956, § 18-8-1.)