Concerning authorizing school districts to purchase crime insurance coverage in lieu of surety bonds
Current law requires the secretary, assistant secretary, treasurer, and assistant treasurer of a school board and any person authorized by the board to be the custodian of money of the school district to obtain a surety bond before taking office. Additionally, a school board is required to obtain and pay for a surety bond for any person who is likely to have custody of $50 or more of school district money.
The act authorizes a school district to purchase crime insurance coverage instead of the bonds.
Senator Vicki Marble | Representative Alec Garnett
Signed on March 18th 2016 By: Dickey Lee Hullinghorst (Speaker of The House of Representatives) ; Bill L. Cadman (President of The Senate) ; Marilyn Eddins (Chief Clerk of The House of Representatives) ; Effie Ameen (Secretary of The Senate) ; John W. Hickenlooper (Governor of The State of Colorado)