((a)) Before becoming a surety under , a surety corporation must file with the Secretary of the Treasury—

((1)) a copy of the articles of incorporation of the corporation; and

((2)) a statement of the assets and liabilities of the corporation signed and sworn to by the president and secretary of the corporation.

((b)) The Secretary may authorize in writing a surety corporation to provide surety bonds under if the Secretary decides that—

((1)) the articles of incorporation of the corporation authorize the corporation to do business described in ;

((2)) the corporation has paid-up capital of at least $250,000 in cash or its equivalent; and

((3)) the corporation is able to carry out its contracts.

((c)) A surety corporation authorized under subsection (b) of this section to provide surety bonds shall file with the Secretary each January, April, July, and October a statement of the assets and liabilities of the corporation signed and sworn to by the president and secretary of the corporation.

((d)) The Secretary—

((1)) shall revoke the authority of a surety corporation to do new business if the Secretary decides the corporation is insolvent or is in violation of this section or section 9304 or 9306 of this title;

((2)) may investigate the solvency of a surety corporation at any time; and

((3)) may require additional security from the person required to provide a surety bond if the Secretary decides that a surety corporation no longer is sufficient security.

((e)) A surety corporation providing a surety bond under may not provide any additional bond under that section if—

((1)) the corporation does not pay a final judgment or order against it on the bond; and

((2)) no appeal or stay of the judgment or order is pending 30 days after the judgment or order is entered.