41-3502. PROCUREMENT OF OFFICIAL BONDS. (1) Whenever any official surety bond is to be procured, placed, canceled or renewed with respect to any officer, agent or employee of the state of Idaho, or any of its departments, boards, agencies, or institutions, required by law or regulation to give surety bond and the premiums on which are payable from funds of the state, the same shall be so procured, placed, canceled or renewed by the administrator of the division of insurance management in the department of administration.
(2) The officer, agent, or employee required by law or regulation to give such surety bond shall make application therefor to the administrator and the administrator shall procure the same from authorized insurers, or as a surplus line under chapter 12, title 41, Idaho Code, on such basis as he may reasonably deem proper.
(3) If any such bond is thereafter to be canceled, modified, or renewed, the officer, agent, or employee involved, or the official having jurisdiction of such agent or employee, shall request the same in writing delivered to the administrator, and the administrator shall promptly attend to such cancellation, modification, or renewal.
History:
[41-3502, added 1961, ch. 330, sec. 794, p. 645; am. 1971, ch. 136, sec. 30, p. 522; am. 1974, ch. 34, sec. 7, p. 988; am. 1974, ch. 252, sec. 10, p. 1647; am. 1980, ch. 106, sec. 4, p. 232.]
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