3-5-14. Local government purchase of bonds or insurance coverage for faithful performance of officials and employees.
The governing board of any political subdivision of this state, may purchase a blanket bond, blanket crime coverage, an insurance policy, or an individual bond, issued to the political subdivision as the insured, covering the faithful performance of each officer, member, and employee. If the governing board purchases a blanket bond, blanket crime coverage, or an insurance policy that is equal to or exceeds the individual bond requirements established in law, no officer, member, and employee of the political subdivision is required to furnish an individual bond to qualify for office. Blanket coverage may not be less than the total coverage of all individual bonds purchased for the year prior to January 1, 2015.
Source: SL 2015, ch 23, ยง1.
Structure South Dakota Codified Laws
Title 3 - Public Officers and Employees
Section 3-5-1 - Bonds of state officers and employees--Approval, recording, and safekeeping.
Section 3-5-2 - Bonds of county officers--Approval and filing.
Section 3-5-3 - Amount of bonds.
Section 3-5-4 - Sureties on bonds.
Section 3-5-5 - Premiums on corporate surety bonds.
Section 3-5-5.1 - Blanket or individual bonds for state officers and employees.
Section 3-5-6 - Limitation of liability by surety.
Section 3-5-7 - Reelected incumbent to account for funds and property before new bond approved.
Section 3-5-8 - Endorsement of approval of bonds.
Section 3-5-9 - Recording of bonds of county and precinct officers.
Section 3-5-12 - New bond or restoration of bond becoming insufficient.