Title 26.1, Insurance

Unless otherwise provided, the bond provided under this chapter is a blanket bond. The blanket bond is a fidelity bond. The blanket bond is conditioned on the public employee or public official, as principal, rendering a true account of all moneys and property possessed as a publ…

1. The amount of coverage afforded to each state agency or political subdivision must be determined by the office based upon the amount of money or property handled and the opportunity for defalcation. Except as otherwise required by law, the minimum amount of coverage must equal…

The annual assessment for a bond of an agent appointed by the director of the game and fish department to distribute hunting and fishing licenses or stamps pursuant to section 20.1-03-17 is ten dollars. The office may reduce or waive the assessment if the office determines that f…

1. Each state agency and political subdivision shall apply to be bonded in the fund at least once per biennium or when a change in coverage is requested, whichever occurs first. Unless an application is denied within sixty days from the date it is received by the office, the appl…

1. Within sixty days after the discovery of any default or wrongful act on the part of any public employee or public official for which the fund is or may become liable, the state auditor, county auditor, city auditor, township clerk, or business manager of the school district; t…

1. Upon notification from the office of jeopardized fund interests under section 26.1-21-02, the state auditor may investigate the relevant state agency or political subdivision and may provide a report to the office regarding any findings. 2. The state auditor may evaluate the b…

1. An action may not be brought against the fund until a claim has been presented to the office under this chapter and the office has refused to allow the claim. 2. An action brought against the fund for a claim must be commenced within one year after presenting the claim to the …

If the payment is paid out of the fund, the fund has a right to recover and is subrogated to the right of the judgment creditor to recover against the public employee or public official. The office may act for the fund in all proceedings to enforce the right of subrogation in the…

If the office determines the interests of the fund are jeopardized by the misconduct or inefficiency of any public official, the office may bring an action against the public official to require complete disclosure of the business of the state agency or political subdivision of w…

1. After an investigation, the office may cancel the bond for the acts of any public employee or public official. The cancellation takes effect thirty days after written notice. 2. The office shall notify the public entity employing the public employee or public official immediat…

The office may reinsure any liability in excess of twenty-five thousand dollars for any one public official, or group of public officials and public employees under a blanket bond, at a cost not exceeding the assessment under this chapter. The cost of reinsurance must be paid fro…

1. If a bond or bond coverage for a public employee or public official is canceled under section 26.1-21-19, the public official or public employee may purchase a bond from an authorized surety company for a coverage amount determined by the office. The public official or public …