Arizona § 35-155 - Cash deposit as an alternative to a surety bond
Full text of Arizona Arizona Revised Statutes § 35-155 — Cash deposit as an alternative to a surety bond, with citation guidance and answers to common questions.
§ 35-155. Cash deposit as an alternative to a surety bond
A. Any budget unit which requires a person to post a surety bond to guarantee the faithful performance of a legal obligation may accept, in lieu of the surety bond, a cash deposit in the form of cash or alternatives to cash. The budget unit may accept as an alternative to cash any of the following:
1. Certificates of deposit or investment certificates payable or assigned to the state treasurer issued by banks doing business in this state and insured by the federal deposit insurance corporation.
2. Certificates of deposit, investment certificates or share accounts payable or assigned to the state treasurer and issued by a savings and loan association doing business in this state and insured by the federal savings and loan insurance corporation.
3. Certificates of deposit, investment certificates or share accounts payable or assigned to the state treasurer and issued by a credit union doing business in this state and insured by the national credit union administration.
B. The budget unit shall deposit the cash deposit received under this section with the state treasurer. The state treasurer shall hold the cash or alternatives to cash in the name of this state to guarantee the faithful performance of all legal obligations of the person required to post the bond. The person is entitled to receive any accrued interest earned from the alternatives to cash. The state treasurer may impose a fee to reimburse the state treasurer for administrative expenses. The fee shall not exceed ten dollars for each cash deposit.
C. A person depositing cash in lieu of a surety bond may withdraw the deposit upon satisfactory performance of the legal obligation or upon replacing the cash deposit with a commercial surety bond.
D. The budget unit and the state treasurer have no personal liability for the performance of duties relating to the cash deposits permitted by this section as long as those duties are performed in good faith.
E. The state treasurer may prescribe rules relating to the terms and conditions of each type of security provided by this section.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 35-155
What does Arizona Revised Statutes § 35-155 cover?
Section 35-155 ("Cash deposit as an alternative to a surety bond") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 35-155?
A common citation format is "Arizona Revised Statutes § 35-155" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 35-155 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.