§ 26.1-21-23 — Additional bond coverage

North Dakota § 26.1-21-23

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-21: State Bonding Fund

Text

1. If a bond or bond coverage for a public employee or public official is canceled under
section 26.1-21-19, the public official or public employee may purchase a bond from
an authorized surety company for a coverage amount determined by the office. The
public official or public employee may not use public funds to pay for the bond.
2. In lieu of the bond provided for in this chapter, a public officer or public employee may
secure a bond from an authorized surety company for a coverage amount determined
by the office. The public official or public employee may not use public funds to pay for
the bond.
3. A state agency or political subdivision may purchase a bond from an authorized surety
company to provide coverage in addition to the bond provided by the fund.
4. Evidence of a bond purchased under this section must be filed with the office.