§ 29323. — 29323. (Amended by Stats. 1955, Ch. 1877.)

California § 29323.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 3.: DIVISION 3. FINANCIAL PROVISIONS
• Ch. 2.: CHAPTER 2. Funds
• Art. 2.: ARTICLE 2. Revolving Funds

Text

Before any money is withdrawn from the county treasury to be placed in the revolving fund, the officer for whose use the fund is created shall file with the clerk of the board of supervisors a bond executed by himself as principal and by an admitted surety insurer, in an amount equal to that of the revolving fund. The bond shall be conditioned upon the faithful administration of the fund and upon the willingness and ability of the principal to account for and pay over the fund upon demand of the board of supervisors at any time.
In lieu of the bond provided in the preceding paragraph, any officer of the county required by statute to furnish an official bond, and any county which purchases and maintains a blanket bond on all or certain of its employees not otherwise required by statute to provide a bond, may cause such a bond or bonds to be issued or amended by endorsement to be conditioned, in addition to its other provisions, upon the faithful administration of the revolving fund and upon the willingness and ability of the principal, or principals, for whose use such a fund or funds have been established, as the case may be, to account for and pay over the fund or funds upon demand of the board of supervisors at any time.

Legislative History

Amended by Stats. 1955, Ch. 1877.