§ 20-41-1-6 — Bond

Indiana § 20-41-1-6

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 41: EXTRACURRICULAR FUNDS AND ACCOUNTS
• Ch. 1: Accounting for School Functions; Extracurricular

Text

(a) The treasurer shall give a bond in an
amount fixed by the superintendent and principal of the school
approximating the total amount of the anticipated funds that will come
into the possession of the treasurer at any one (1) time during the
regular school year. Bonds shall be filed with the trustee or board of
school trustees. The surety on the bonds must be a surety company
authorized to do business in Indiana. However, the requirement for
giving the bond and the requirement to deposit the receipts in a
separate bank account, as required in section 9 of this chapter, do not
apply to any school for which the funds, as estimated by the principal,
will not exceed three hundred dollars ($300) during a school year.
(b) The requirements of this chapter may be fulfilled by providing
a comprehensive bonding instrument, including a single blanket
position bond, for all extracurricular treasurers. A comprehensive
bonding instrument is acceptable instead of individual separate
personal position bonds.
[Pre-2006 Recodification Citation: 20-26-6-5.]

Legislative History

As added by P.L.2-2006, SEC.164.