Section 415.18 City Unit May Pay for Performance Bonds - Minnesota Statutes

415.18 CITY UNIT MAY PAY FOR PERFORMANCE BONDS.

Subdivision 1.If bond required.

When an officer or employee of any statutory or home rule charter city is required to furnish a fidelity or faithful performance bond, the governing body of the city, or the board or commission to whom the officer or employee is responsible, may provide for the payment of the premium on the bond from city funds.

Subd. 1a.Blanket position bond; conditions.

In lieu of individual bonds, the governing body, board or commission may provide for blanket position bonds furnished by a surety company to cover any officer or employee required to furnish a bond if all of the obligations required by law, charter, or ordinance to be assumed by the principal and the principal's sureties by an individual bond are included in the blanket position bond.

Subd. 2.Adds to, prevails over other law.

This section is supplementary to other statutory and charter provisions and supersedes such provisions only to the extent that they restrict or prohibit action authorized by this section.

History:

1959 c 198 s 1; 1984 c 384 s 2; 1986 c 444