CHAPTER 5. BONDS OBTAINED FROM SURETY COMPANIES
IC 5-4-5
Chapter 5. Bonds Obtained From Surety Companies
IC 5-4-5-1
Who must furnish bond
Sec. 1. Every public official elected or appointed to any public
office, employment or position of trust, and officer of the Indiana
national guard, who is required to execute and furnish a bond or
other like obligation may procure such bond or other like obligation
from a surety company or surety companies authorized by law to
transact business in this state and competent to execute and furnish
a bond or other like obligation of the character required.
(Formerly: Acts 1925, c.30, s.1; Acts 1931, c.27, s.1.) As amended by
Acts 1981, P.L.47, SEC.5.
IC 5-4-5-2
Cost of bond; source of payment
Sec. 2. The cost of any such bond or other like obligation so
procured, if furnished by a state officer or employee, shall be paid
out of the general fund of the state treasury; if furnished by an officer
or employee of any state institution, such cost shall be paid out of the
maintenance fund of such institution; if furnished by a county, city,
town, or township officer or employee, such cost shall be paid out of
the general fund of the county, city, town, or township in and for
which such officer or employee shall have been or shall be elected
or appointed, as the case may be; if furnished by any officer or
employee of any school corporation, such cost shall be paid out of
the special school fund of the school corporation in and for which
such officer or employee shall have been or shall be elected or
appointed; and if furnished by any officer or employee of any
municipal corporation or political subdivision of the state, other than
those designated in this section, such cost shall be paid out of the
operating or maintenance fund of such corporation or political
subdivision in or for which such officer or employee is acting.
(Formerly: Acts 1925, c.30, s.2.) As amended by P.L.25-1986,
SEC.15.
IC 5-4-5-3
Cost of bond; method of payment
Sec. 3. The cost of any such surety bond or other like obligation
so required, as hereinbefore provided, shall be paid in the same
manner as office expenses, and the proper fiduciary officer of the
state or of any such municipal corporation or institution is hereby
authorized and directed, upon the presentation of a voucher therefor,
to issue his warrant, without an appropriation having been previously
made therefor, in such amount as may be necessary to pay for the
cost of such bond or obligation.
(Formerly: Acts 1925, c.30, s.3.)
IC 5-4-5-4
Bonds executed before passage of act
Sec. 4. In the event that any surety bond shall have been procured
and executed, prior to February 28, 1925, by any officer whose term
of office will extend beyond February 28, 1925, any deferred
payments on any such bond which may fall due on or after January
1, 1926, shall be paid, as provided in this chapter, out of the funds of
the state or of the municipal corporation or political subdivision or
institution in and for which such public official is acting.
(Formerly: Acts 1925, c.30, s.4.) As amended by P.L.25-1986,
SEC.16.
IC 5-4-5-5
Blanket bonds; crime policies; faithful performance of duty of state
employee or instrumentality
Sec. 5. (a) This section applies notwithstanding any other statute.
(b) Whenever the state or an instrumentality of the state pays for
a bond or crime insurance policy endorsed to cover the faithful
performance of duty of an employee of the state or an instrumentality
of the state (including a public official or deputy), the bond or crime
insurance policy must, when feasible, cover all of the employees in:
(1) an individual state agency or instrumentality; or
(2) two (2) or more state agencies or instrumentalities specified
in the blanket bond or crime insurance policy.
The Indiana department of administration may require two (2) or
more state agencies to obtain a joint blanket bond or crime insurance
policy endorsed to include faithful performance.
(c) The commissioner of insurance shall prescribe the form of the
bonds or crime policies required by this section.
As added by P.L.14-1986, SEC.10. Amended by P.L.49-1995, SEC.5.