What type of bond is required for a state treasurer?

A state treasurer is required to obtain a Public Official Bond. This type of bond serves as a guarantee that the official will perform their duties in accordance with the law and uphold the financial responsibilities inherent to their position. It protects the state and its citizens from any financial mismanagement or misconduct that the treasurer might engage in while in office.

Public Official Bonds are tailored for positions of public trust and ensure that the official adheres to their duties with integrity. They are typically mandated by state law for various officials, including treasurers, to ensure accountability and protect public funds. The bond essentially acts as an assurance that the state treasurer will manage public funds ethically and responsibly.

Other types of bonds, such as Contract Bonds, Performance Bonds, and License Bonds, serve different purposes. For instance, Contract Bonds are often related to the performance of contracts, Performance Bonds ensure that a contractor will complete a project according to the contract terms, and License Bonds typically guarantee compliance with the regulations of a particular trade. In the context of a state treasurer's role, none of these other bonds provide the specific protective function necessary for public officials.