National Surety Co. v. Morgan

Under an act of the Legislature approved September 29, 1919, Acts 1919, p. 946, entitled an act to prevent frauds and impositions upon the people of the state and to protect investors, the Mid-Texas Petroleum Corporation qualified to sell its stock and securities in this state and, as a part of the things necessary to be done in order to qualify, executed a bond payable to the state of Alabama, in the sum of $10,000, and conditioned according to the terms of section 3 of the above act. This bond was signed by this defendant as surety and was approved and filed March 25, 1920. On August 31,…