2-9-507. Sureties' qualifications. (1) The individual sureties on all official bonds must justify before an officer authorized to administer oaths by an affidavit to the effect that they are residents and householders or freeholders within the state and that each is worth the sum for which he becomes surety in said bond over and above his just debts and liabilities, exclusive of property exempt from execution.
     (2) No surety company or corporation organized under or that has complied with the laws of this state and has been duly licensed to do business as such herein shall be required to justify as a surety. No such company or corporation shall be accepted as a surety in any case when its liabilities exceed its assets, as ascertained in the manner provided by law.
     (3) No member of the board of county commissioners can be accepted as a surety upon the official bond of any county, township, or school district officer in his county, nor must any county officer become a surety upon the official bond of any other county officer.

     History: En. Sec. 1058, Pol. C. 1895; amd. Sec. 3, p. 80, L. 1899; re-en. Sec. 385, Rev. C. 1907; re-en. Sec. 476, R.C.M. 1921; Cal. Pol. C. Sec. 955; re-en. Sec. 476, R.C.M. 1935; R.C.M. 1947, 6-307.