.170 Bonds of state employees -- Blanket bonds -- Amount -- Insurance companies that may participate.
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62.170 Bonds of state employees -- Blanket bonds -- Amount -- Insurance
companies that may participate.
(1)
The secretary of the Finance and Administration Cabinet shall secure, except for
state officers required by KRS 62.160 to file bond, blanket bonds, with or without
cosureties, written on a blanket position form, to cover all other officers, employees,
or deputies of the Commonwealth of Kentucky, including all judges, clerks, and
employees of the Court of Justice, including all other members of boards or
commissions or employees of those boards or commissions, and including all
superintendents, receivers, or employees of penal or eleemosynary institutions
managed or directed by the Justice Cabinet, the Cabinet for Health and Family
Services, or any other department or agency of the Commonwealth of Kentucky.
Nothing in this paragraph shall be deemed to prohibit the securing of any such
blanket position bond on a departmental, board, commission, agency, or
institutional basis.
(2)
The secretary of the Finance and Administration Cabinet may secure one (1) or
more excess blanket bonds, with or without cosureties, to cover selected groups of
persons covered by the bond or bonds required in the preceding paragraph to
provide additional coverage which he may deem necessary by the exposures
indicated in accordance with the duties and responsibilities indicated by the
personnel classification schedules of the Personnel Cabinet and, for Court of Justice
officers and personnel, by the Administrative Office of the Courts and in
accordance with the amounts of money and property handled by the respective
officers and employees.
(3)
Such bond or bonds shall be written by and participated in only by insurance
companies licensed by the Office of Insurance to do business in this state and shall
be countersigned by a duly authorized licensed resident agent of the company. The
bonds may be written with or without cosureties. Further, the bonds are to be a
percentage of the total risks, the Office of Insurance to approve the amount of the
risk written by any one (1) company.
(4)
The penal amount of the bond secured pursuant to this section shall be fixed by the
secretary of the Finance and Administration Cabinet in accordance with the duties
and responsibilities indicated by the personnel classification schedules of the
Personnel Cabinet and, for Court of Justice officers and personnel, by the
Administrative Office of the Courts, and in accordance with the amounts of money
and property handled by the respective officers and employees.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 99, sec. 18, effective June 20, 2005. -- Amended
1998 Ky. Acts ch. 154, sec. 70, effective July 15, 1998; and ch. 426, sec. 89,
effective July 15, 1998. -- Amended 1976 (1st Extra. Sess.) Ky. Acts ch. 22, sec. 76.
-- Amended 1974 Ky. Acts ch. 74, Art. II, sec. 9(2); and Art. VI, sec. 36. -- Amended
1960 Ky. Acts ch. 101, sec. 1, effective June 16, 1960. -- Amended 1956 Ky. Acts
ch. 153, sec. 1. -- Created 1946 Ky. Acts ch. 27, sec. 2.
Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97,
98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to
agencies and officers whose names have been changed in 2005 legislation confirming
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the reorganization of the executive branch. Such a correction has been made in this
section.
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