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SB-208

PUBLIC OFFICIAL

Public Official Application SB-208

Notary Application SB-210 

WHO NEEDS THEM

Elected or appointed public officials in favor of a state or other political subdivision. The bonds guarantee the official will faithfully perform the duties of their office as provided by law. Included in this class are bonds required from deputies and subordinate employees of public officials.

DESIRABILITY

This is one of the most desirable classes of bonds. The smaller bonds, particularly those required by officials who do not handle large amounts of public funds, are written freely for reputable applicants.

Treasurers and other Money-Handling Officials. (Bonds exceeding $25,000) Desirable and readily written for reputable and qualified applicants where:

1. the public funds coming into the official's hands are deposited according to law in banks properly designated by resolution of the governing body or board;
2. the applicant's deputies and subordinates are adequately bonded;
3. if the applicant is a "hold-over", (i.e., if he/she has occupied the same office for the term immediately preceding) his/her accounts have been examined as of a recent date and found to be correct.

Tax Collectors. In some states, Tax Collectors are responsible not only for all funds coming into their hands, but also for uncollected taxes. Where the bond carries such liability, it will be written only when the conditions applying to treasurers' bonds (see preceding paragraph) are fulfilled, and in addition when the tax collector has been exonerated in the manner provided by law from liability for any uncollected taxes.

PUBLIC EMPLOYEES BLANKET BONDS

Where a political subdivision has a number of deputies, clerks and other subordinates, it is to its advantage to bond all its employees under a Public Employees Blanket Bond. For premium computation purposes, the Company should be furnished with a list of all the employees, giving their positions. Please use the [Fidelity Blanket Application FB-369] for this purpose.

PUBLIC EMPLOYEES SCHEDULE BONDS

Schedule Bonds are available where the city, county, or state will allow. We will need a public official application completed for each individual to be covered and a cover note with the full name and address of the city, county, or state requiring the bond.

PUBLIC OFFICIAL BONDS AVAILABLE TO ALL AGENTS

Every community, borough, township, county, school board, water, drainage or irrigation district, board, commission and similar governmental body has a certain number of officials, and the majority of these officials are required by law to file a bond to guarantee the faithful performance of their duties. Even the smaller towns offer opportunities to write public official business.

The best time to solicit this business is when one first learns of an individual's interest in a public office, when the local paper first mentions his/her candidacy or the possibility of his/her appointment to a particular office. After election, his/her bond will probably have been promised to someone else.