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December 3, 2012 (Recessed Meeting) Page 1326
<br />White: But they're not willing to stake that based upon this new information
<br />that everything is up to snuff. They're saying that based on the information
<br />that was provided and what they wrote the bond on - they're going on that
<br />information. And they're keeping the bond under that information.
<br />Burrage: But then again -
<br />Small: I don't think that's what he's saying at all.
<br />Cash: No.
<br />Small: He's saying with all of the information they have verbally agreed to
<br />keep the bond.
<br />Cash: That's correct. Because I disclosed to her what - what, what the
<br />board wanted and if there were issues with professional licensing. And she
<br />said, no there weren't, that the bond is issued and the bond is fine. But
<br />they wouldn't -
<br />Small: Just wouldn't put that in writing.
<br />Cash: They wouldn't put that in writing.
<br />White: So you're comfortable that they're not going to go off the bond,
<br />they're not going to revoke the bond -
<br />Cash: I am. That's what she assured me.
<br />White: No matter what happens, they're not going to revoke the bond or
<br />anything? Is that correct?
<br />Cash: That - that's what she assured me, yes.
<br />Burrage: Well any bonding company can revoke the bond, can't they? Without a
<br />reason?
<br />Cash: They can. I'm not - she told me that the bond is fine.
<br />Burrage: I mean insurance - the county insurance company can go bankrupt
<br />tomorrow and all our bonds be bad, right?
<br />Cash: That's right.
<br />Measmer: It's still very concerning to me that they won't put anything in
<br />writing. And if that is their policy - I understand - however, you know,
<br />this contact that you have, that you just spoke with she could not be there
<br />next week and a problem could arise and we could say well we had information,
<br />we spoke to so- and -so and everything was fine that day.
<br />Cash: Well when - when you look at the application that I submitted here, it
<br />says... you know the only thing that even comes up to this at all is `Have you
<br />ever had a bond declined, cancelled or renewal refused ? ".
<br />Measmer: I see.
<br />Cash: And - and we checked the box "yes" and said Penn National would not
<br />disclose to the applicant the reason - and she didn't even, there weren't
<br />questions asked about this when I was on the phone - and I volunteered the
<br />information that there was a suspension of a professional license. Would
<br />that impact the bond at all? And she said "No." And I said can you fax me a
<br />statement saying that and she said that's not something we can do, we've done
<br />our due diligence on this bond issue.
<br />Burrage: Could they not have went back and asked Penn, asked them why they
<br />turned the bond down?
<br />Cash: I don't know that.
<br />Burrage: I said could they have. They could have, though.
<br />Cash: I would assume they have - you know, on the application there is a
<br />social security number - and again to your point, it's public record. So it's
<br />up to the bonding company to go on the information that we provide them to do
<br />their due diligence, to figure out if they want to issue a bond. And I'm not
<br />an underwriter, I mean I don't, but that's what they do.
<br />Poole: Okay, we do have a motion on the table, which Commissioner White made
<br />and it was seconded - which is to deny the bond, is that correct?
<br />White: It is correct, Madam Chairman.
<br />Poole: Any other comments or questions? And because the clerk needs to know
<br />very specifically - correctly - exactly how each commissioner is voting, all
<br />those in favor of the motion to deny the bond, please raise your hand.
<br />(Chairman Poole and Commissioners White, Carruth and Measmer raised their
<br />hands to vote in favor of the motion to deny the bond.)
<br />Poole: All those opposed, please raise your hand.
<br />(Vice Chairman Burrage raised his hand in opposition of the motion to deny
<br />the bond.)
<br />(The MOTION carried, with Chairman Poole and Commissioners White, Carruth and
<br />Measmer voting for and Commissioner Burrage voting against.)
<br />Poole: Okay, at this time the bond has been denied at a vote of four to one.
<br />Our attorney, I need to ask you what we do next, based on the law... And I
<br />guess, do we - have it in open.
<br />Koch: Well, in order for someone to be sworn into the office of register of
<br />deeds or to continue in the office of register of deeds, that person has to
<br />have a bond, required by statute. Now we've discussed that previously, if
<br />the person has no bond, then it brings into play NCGS 58 -72 -25 which the -
<br />allows the commission to declare the office vacant if there is no bond. And
<br />it's a short statute, let me just read it: "...from the failure of any such
<br />officer to make such renewal of his bond, it is the duty of the board of
<br />commissioners, by an order to be entered of record, to declare his office
<br />vacant, and proceed forthwith to appointed successor, if the power of filling
<br />the vacancy in the particular case is vested in the board of commissioners;
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