Utah Admin. Code R628-4-2 - Fidelity Bond or Crime Insurance
A. Every public treasurer shall secure a
fidelity bond or crime insurance in the amount shown in
R628-4-4.
Bonds must be issued by a corporate surety licensed to do business in the state
of Utah and having a current A.M. Best Rating of "A" or better.
1. Crime insurance must be issued by:
a) an insurer licensed to do business in the
state of Utah and having a current A.M. Best Rating of "A" or better;
or
b) an interlocal agency created
under Section
11-13-101
operating as a joint self-insurance fund. A joint self-insurance fund providing
crime coverage under this section must maintain a restricted account in the
PTIF equal to 50% of the per occurrence limit of coverage.
B. Bonds should be effective as of
the date the treasurer assumes the duties of the office or is sworn
in.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.