MO HB426

Repeals and re-enacts section 105.721, RSMo, regarding the state legal expense fund and insurance procurement authority.

Authorizes the Commissioner of Administration to direct expenditure of state legal expense fund moneys to procure insurance policies covering potential liabilities of the state, its agencies, officers, and employees.

Requires the Commissioner to procure a blanket bond or crime insurance policy (in consultation with the state courts administrator) to protect against losses from acts or omissions of judiciary members receiving state compensation, eliminating the need for individual bonds.

Allows the Commissioner to require bonds for any state officer, employee, or agent with access to state money or property who is not otherwise bonded by law, with amounts determined by the Commissioner.

Permits the Commissioner to elect blanket bonds, crime insurance policies, or self-assumption of risk for state officers and employees in lieu of individual bonds, with costs paid from the state legal expense fund.