(a) (1) The Governor may require the Commissioner to execute a surety bond in an amount that the Governor establishes.
(2) The Commissioner may require any officer or other employee of the Division to execute a surety bond in the amount that the Commissioner, with the approval of the Comptroller, establishes.
(3) The bond shall be conditioned on the individual faithfully performing the duties of office and accounting for all funds officially received.
(b) (1) The surety bond for the Commissioner shall be issued by a corporate surety approved by the Governor.
(2) The surety bond for any officer or other employee of the Division shall be issued by a corporate surety approved by the Commissioner and the Comptroller.
(c) The premium for a surety bond issued under this section shall be paid by the Division.
(d) An individual who fails to provide or maintain a surety bond as required by this section:
(1) may not assume the duties of the individual’s position; and
(2) after 30 days, forfeits the individual’s office or employment.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.