Public Official Bond
Definition of "Public official bond"
Type of surety bond that guarantees the performance of public officials. Public officials are responsible for a broad range of property including fees that they collect, money that they handle, and bank accounts that they oversee. They may also be held responsible for misdeeds that result in a loss of public funds by those they supervise. In some cases coverage is available for an entire group of employees under a public employees blanket bond.
Popular Insurance Terms
Policy that remains in full force and effect for the life of the insured, with premium payments being made for the same period. ...
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That which cannot be touched; having no meaning to the senses. It is represented by incorporeal rights in property (that which is evidence or represents value; for example, a copyright). ...
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