<br><br> <br>Page 1 of 1 <br>62.170 Bonds of state employees -- Blanket bonds -- Amount -- Insurance <br>companies that may participate. <br>(1) The secretary of the Finance and Administration Cabinet shall secure, except for <br>state officers required by KRS 62.160 to file bond, blanket bonds, with or without <br>cosureties, written on a blanket position form, to cover all other officers, employees, <br>or deputies of the Commonwealth of Kentucky, including all judges, clerks, and <br>employees of the Court of Justice, including all other members of boards or <br>commissions or employees of those boards or commissions, and including all <br>superintendents, receivers, or employees of penal or eleemosynary institutions <br>managed or directed by the Justice and Public Safety Cabinet, the Cabinet for <br>Health and Family Services, or any other department or agency of the <br>Commonwealth of Kentucky. Nothing in this subsection shall be deemed to prohibit <br>the securing of any such blanket position bond on a departmental, board, <br>commission, agency, or institutional basis. <br>(2) The secretary of the Finance and Administration Cabinet may secure one (1) or <br>more excess blanket bonds, with or without cosureties, to cover selected groups of <br>persons covered by the bond or bonds required in the preceding paragraph to <br>provide additional coverage which he or she may deem necessary by the exposures <br>indicated in accordance with the duties and responsibilities indicated by the <br>personnel classification schedules of the Personnel Cabinet and, for Court of Justice <br>officers and personnel, by the Administrative Office of the Courts and in <br>accordance with the amounts of money and property handled by the respective <br>officers and employees. <br>(3) Such bond or bonds shall be written by and participated in only by insurance <br>companies licensed by the Department of Insurance to do business in this state and <br>shall be countersigned by a duly authorized licensed resident agent of the company. <br>The bonds may be written with or without cosureties. Further, the bonds are to be a <br>percentage of the total risks, the Department of Insurance to approve the amount of <br>the risk written by any one (1) company. <br>(4) The penal amount of the bond secured pursuant to this section shall be fixed by the <br>secretary of the Finance and Administration Cabinet in accordance with the duties <br>and responsibilities indicated by the personnel classification schedules of the <br>Personnel Cabinet and, for Court of Justice officers and personnel, by the <br>Administrative Office of the Courts, and in accordance with the amounts of money <br>and property handled by the respective officers and employees. <br>Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 57, effective July 15, 2010. -- Amended <br>2007 Ky. Acts ch. 85, sec. 136, effective June 26, 2007. -- Amended 2005 Ky. Acts <br>ch. 99, sec. 18, effective June 20, 2005. -- Amended 1998 Ky. Acts ch. 154, sec. 70, <br>effective July 15, 1998; and ch. 426, sec. 89, effective July 15, 1998. -- Amended <br>1976 (1st Extra. Sess.) Ky. Acts ch. 22, sec. 76. -- Amended 1974 Ky. Acts ch. 74, <br>Art. II, sec. 9(2); and Art. VI, sec. 36. -- Amended 1960 Ky. Acts ch. 101, sec. 1, <br>effective June 16, 1960. -- Amended 1956 Ky. Acts ch. 153, sec. 1. -- Created 1946 <br>Ky. Acts ch. 27, sec. 2. <br><br>