2006 Code of Virginia § 2.2-1840 - Blanket surety bond plan for state and local employees

2.2-1840. Blanket surety bond plan for state and local employees.

A. Subject to the approval of the Governor, the Division shall establish aprogram of blanket surety bonding to provide surety for the faithfulperformance of duty for all state employees required by statute to be bonded,and for other agency employees handling funds or having access to funds whosefunction, in the opinion of the agency head and the Division, should bebonded.

B. Local employees, including superintendents and jail officers of regionaljail facilities as described in 53.1-110, local constitutional officers,and those employees of the Supreme Court for whom the Commonwealth pays allor part of the costs of surety bonds shall be required to participate in theblanket surety bond program adopted by the Division through the Comptrollerand the Compensation Board. The Division shall exclude clerks of the circuitcourt with respect to the moneys they hold pursuant to 8.01-582 insofar ascoverage is provided under 2.2-1841 for their faithful performanceconcerning those moneys. Before implementing the program, the Division shalldetermine that the program will be of less cost to the Commonwealth than theaggregate of individual bonds costs.

C. The blanket surety bonding plan for state employees shall be submitted tothe Governor for approval prior to implementation.

D. Employees or officers of a public service authority created under theVirginia Water and Sewer Authorities Act ( 15.2-5100 et seq.) mayparticipate in the blanket surety bond program adopted by the Divisionthrough the Comptroller and the Compensation Board whenever any federal orstate agency lends or guarantees funds to a public service authority createdunder the Virginia Water and Sewer Authorities Act where the funds areutilized in the construction or capitalization of projects authorized underthe Act, and there is a condition of the loan or guarantee that thoseemployees or officers of the authority who have access to the funds bebonded. Participation by such employees or officers shall be approved by thegoverning body of the county or city that created the authority or is amember of the authority, with approval of the Division.

(1982, c. 318, 2.1-526.9; 1984, c. 324; 1988, cc. 841, 848; 1993, c. 939;1995, c. 5; 2000, cc. 618, 632, 2.1-191.13; 2001, c. 844.)