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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 4-11-65 SO AT TO AUTHORIZE THE GOVERNING BODY OF A COUNTY TO PURCHASE A FIDELITY BOND ON ALL COUNTY OFFICIALS OR A PORTION OF THEM INSTEAD OF THE AMOUNT REQUIRED BY LAW AND REQUIRE A RESOLUTION TO BE ADOPTED BY THE COUNTY GOVERNING BODY WHEN A FIDELITY BOND IS USED TO REPLACE THE EXISTING BOND REQUIRED BY LAW, WHICH MUST MEET OR EXCEED THAT REQUIREMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 11, Title 4 of the 1976 Code is amended by adding:
"Section 4-11-65. (A) The governing body of a county may purchase a fidelity bond covering all county officials and employees or a portion of them. A fidelity bond may be used instead of specific statutory bond requirements including, but not limited to, those found in Sections 12-39-10, 12-45-10, 14-17-40, 14-17-60, 14-17-350, 14-23-1050, 17-5-20, 17-5-70, 22-1-150, 22-1-160, 23-11-30, and 23-13-20.
(B) To replace an existing bond covering a county official or employee, it must be evidenced by passage of a resolution by the county's governing body. A fidelity bond used to replace an existing bond must meet or exceed the minimum value required by statute."
SECTION 2. This act takes effect upon approval by the Governor.
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