This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.
79R8866 HLT-D
By: Janek S.B. No. 1045
A BILL TO BE ENTITLED
AN ACT
relating to insurance coverage in lieu of a bond requirement for
officers, employees, and consultants of certain conservation and
reclamation districts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49.057, Water Code, is amended by
amending Subsection (e) and adding Subsection (i) to read as
follows:
(e) Except as provided by Subsection (i), the [The] board
shall require an officer, employee, or consultant, including a
bookkeeper, financial advisor, or system operator, who routinely
collects, pays, or handles any funds of the district to furnish good
and sufficient bond, payable to the district, in an amount
determined by the board to be sufficient to safeguard the district.
The board may require a consultant who does not routinely collect,
pay, or handle funds of the district to furnish a bond. The bond
shall be conditioned on the faithful performance of that person's
duties and on accounting for all funds and property of the district.
Such bond shall be signed or endorsed by a surety company authorized
to do business in the state.
(i) The board may obtain or require an officer, employee, or
consultant of the district to obtain insurance that covers theft of
district funds by officers, employees, or consultants of the
district in lieu of requiring a bond under Subsection (e) if the
board determines that the insurance would adequately protect the
interests of the district.
SECTION 2. This Act takes effect September 1, 2005.