348.035. Bond required for commissioners, executive director and employees, cost. - Missouri Statutes

Bond required for commissioners, executive director and employees,cost.

348.035. Before entering into his duties, each commissionerof the authority shall execute a surety bond in the penal sum offifty thousand dollars, and the executive director shall executea surety bond in the penal sum of one hundred thousand dollarsor, in lieu thereof, the chairman of the authority shall executea blanket bond covering all members, the executive director, andthe employees or other officers of the authority, each suretybond to be conditioned upon the faithful performance of theduties of the office or offices covered, to be executed by asurety company authorized to transact business in this state assurety and to be approved by the attorney general and filed inthe office of the secretary of state. The cost of each such bondshall be paid by the authority.

(L. 1981 H.B. 681 § 7)