CO HB1062

Allows Colorado counties to purchase crime insurance coverage as an alternative to surety bonds for county officers and employees, protecting the county from malfeasance while in office.

Applies to sheriffs, county clerks and recorders, county treasurers, county commissioners, coroners, assessors, surveyors, and district and county court clerks.

Insurance coverage must meet minimum amounts specified for each position type (ranging from $5,000 to $25,000 depending on the office).

Modifies existing statutes to make surety bonds optional when crime insurance is purchased by the county on behalf of the officer.

Effective date is 90 days after final adjournment of the 2010 general assembly (August 11, 2010), subject to voter approval if a referendum petition is filed.