§ 12-21-3-3 — Performance bonds and crime policies

(a) An officer or employee of the division shall,
as the director requires, furnish a bond or crime policy endorsed to
include faithful performance in the amount the director determines
payable to the state and conditioned upon the faithful performance of
the individual's duties.
(b) The bonds or crime policies are subject to approval by the
insurance commissioner and shall be filed in the office of the secretary
of state.
(c) The premiums for the bonds are payable from the money of the
division.
(d) The director may secure a standard form blanket bond or crime
insurance policy endorsed to include faithful performance covering all
or any part of the officers and employees of the department. However,
the blanket bond or crime insurance policy must be in an amount not
less than fifty thousand dollars ($50,000).
(e) The commissioner of insurance shall prescribe the form of the
bonds or crime policies required by this section.
[Pre-1992 Revision Citation: 16-13-1-29 part.]

Legislative History

As added by P.L.2-1992, SEC.15. Amended by P.L.49-1995, SEC.8.