574.16 SURETY, SUBROGATION.
When the surety upon the bond of any state officer shall have fulfilled the conditions of
such bond and compensated the state for any loss occasioned by any act or omission of such
officer, such surety shall be subrogated to all the rights of the state and, if there shall be any
property, evidence of indebtedness, or other obligation, or evidence thereof, in the possession of
any official of the state and which shall have been received in connection with the transaction
wherein such loss shall have occurred, the governor, upon satisfactory proof that such loss has
been so paid and the obligation of such bond fulfilled by such surety, shall thereupon, by sufficient
instruments of transfer, assign, transfer, or convey to such surety any such property, evidence of
indebtedness, or obligation.
History: (9690) 1917 c 492 s 1