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Indicates Matter Stricken
Indicates New Matter
RECALLED
May 5, 2005
S. 506
S. Printed 5/5/05--H.
Read the first time April 20, 2005.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 4-11-65 SO AS 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) When bonding of county officials or employees is statutorily required, the governing body of a county may purchase a fidelity bond to cover all or a portion of the county officials and employees. 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. Any officials or employees not covered by a fidelity bond must be bonded as required by statute.
(B) The purchase of a fidelity bond as provided in subsection (A) or the replacement of an existing bond with a fidelity bond covering one or more county officials or employees must be evidenced by passage of a resolution by the county's governing body. A fidelity bond must meet or exceed the minimum value of the bond required by the statute or statutes for the covered officials or employees."
SECTION 2. This act takes effect upon approval by the Governor.
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