262.607. Bond of treasurer--action for breach, by whom brought. - Missouri Statutes

Bond of treasurer--action for breach, by whom brought.

262.607. 1. The treasurer of the council within ten daysafter his election as treasurer and before entering upon theduties of his office shall execute to the council a corporatesurety bond of not less than one hundred twenty-five percent ofthe estimated amount that will be in his hands as treasurer atany one time. All such bonds shall be conditioned on hisfaithful discharge of the duties of the office of treasurer. Theamount and sufficiency of all bonds shall be determined by thecounty clerk, and upon his approval endorsed on the bond, thebond shall be filed with the county clerk, who shall notify thechairman of the council and the county treasurer of the approvaland filing. The cost of such bond shall be paid by the council.

2. In the event of the breach of any condition thereof, thechairman of the council shall, and if he does not any member ofthe council may, cause a suit to be commenced thereon in his ownname for the benefit of the council, in which suit it shall notbe necessary to include the treasurer as a party and the moneycollected shall be applied to the use of the council, as the sameshould have been applied by the treasurer.

(L. 1961 p. 7 § 18)