59-804. SURETY BONDS — BLANKET SURETY BOND — CRIME INSURANCE TERMS AND CONDITIONS. (1) Each official surety bond, blanket surety bond or suitable crime insurance policy of a public official or an employee shall be payable to the state or appropriate political subdivision, and shall be in the appropriate form as defined in section 59-802, Idaho Code. The surety bond, blanket surety bond, or suitable crime insurance shall be executed by a corporate surety company authorized to do business in this state in the amount fixed by the administrator, or by the governing body of the political subdivision.

(2) In lieu of individual bonds, the administrator or the governing body of a political subdivision may elect to provide a schedule or blanket corporate surety bond, or suitable crime insurance covering all or any group of public officials or employees whenever the premiums would be less than the aggregate of premiums chargeable under individual coverage. Any blanket or schedule bond or crime insurance provided shall contain all terms and conditions required in subsection (1) of this section or as defined in section 59-802, Idaho Code.

(3) All official bonds of employees of the state and its agencies shall be approved by the governor and shall be approved as to form and legal sufficiency by the attorney general and shall be filed with the secretary of state without cost, except that the bond of the secretary of state or a certified copy of any master, blanket or schedule bond including the secretary of state shall be filed with the state controller.

(4) All official surety bonds, blanket surety bonds, or suitable crime insurance coverage of public officials or employees of a political subdivision shall be approved by the governing body of the political subdivision. After the governing body approves the form and legal sufficiency, the bonds or policies shall be filed with the clerk or secretary of the political subdivision.

History:

[59-804, added 1971, ch. 136, sec. 59, p. 522; am. 1974, ch. 34, sec. 14, p. 988; am. 1974, ch. 252, sec. 14, p. 1647; am. 1980, ch. 106, sec. 8, p. 234; am. 1991, ch. 281, sec. 2, p. 725; am. 1994, ch. 180, sec. 132, p. 507.]