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AR HB1626
Bill
Status
4/11/2023
Primary Sponsor
Brian Evans
Click for details
AI Summary
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Adds Arkansas Code § 21-2-712 establishing that participating governmental entities in the Self-Insured Fidelity Bond Program are considered to have satisfied any other statutorily required bond requirements under state law.
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Addresses exposure to fraud, theft, and malfeasance by public employees and officials due to inadequate statutory bond coverage and uncertainty in bond requirements for participating entities.
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Declares an emergency due to confusion created by previous legislation changes in the Self-Insured Fidelity Bond Program (§ 21-2-701 et seq.) and the need for clarity regarding statewide coverage.
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Provides for immediate effective date upon Governor's approval, expiration of veto period without action, or override of gubernatorial veto.
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Approved by Governor on April 11, 2023.
Legislative Description
Concerning The Self-insured Fidelity Bond Program; To Modify The Self-insured Fidelity Bond Program For Certain Participating Governmental Entities; And To Declare An Emergency.
Last Action
Notification that HB1626 is now Act 554
4/11/2023