HB 18-1140

HB 18-1140 is a Colorado bill that updates and simplifies requirements for public officials by allowing them to purchase insurance instead of personal surety bonds. This change affects various levels of government, including counties and municipalities, by removing outdated rules about who can provide these bonds and where they must be issued. The bill has been signed into law, meaning the changes it proposes are now in effect and will impact how public officials secure their positions going forward.

Official Summary

Statutory Revision Committee. Section 1 of the bill contains a legislative declaration. Section 2 repeals an obsolete provision regarding personal surety bonds for executive agency personnel. Sections 3 through 5 repeal obsolete requirements that a person providing a personal surety bond to a county officer be a property owner in the county and, if requested, provide a statement of assets. Section 6 authorizes a public entity to purchase insurance in lieu of a public official personal surety bond and states the requirements for the insurance. Sections 7 through 9 remove obsolete personal surety bond requirements for certain municipal officials.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) Read More

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