SURETY BONDS FOR PUBLIC OFFICIALS

by Colin Anderson)

Are you thinking of running for your local school board or a city council position? Terrific, it is always a good idea to give back to your community and get involved in the public issues that affect you, your family, and your neighborhood. Individual participation in our system is vital to our society. However, you may need to acquire a surety bond to cover any financial responsibilities you may occur as a result of a law suit. Anyone acting as a public official or a public administrator is required to be covered by a surety bond. That means anyone acting as treasurers, tax collectors, judges, notaries, mayors, and school board members, as well as many others, have to be covered. In the event that you find yourself in litigation, a public official surety bond will provide monetary resolution for any financial settlements that are due. Laws pertaining to bonds are regulated by the Office of the Attorney General. Information regarding this obligation and the varying requirements can be found online. It is generally a good idea to check with your lawyer for clarification of all legal matters and responsibility issues that may stem from possible litigation. If you determine that you do need to have a public official surety bond, it is an easy process. There are several bond companies in any area and online. The entity for which you are working may have all the information and processes for surety bonds in place. If, however, you find you need procure a public official surety bond on your own, a knowledgeable and trusted bond agent can assist you with the right choices.