The state of Massachusetts enacted a new law concerning public officials and regional education. The new law, titled SB 53, institutes a regional education training and skills center in the city of Taunton. SB 53 demands the treasurer of the Board of Directors for the new education center to acquire a surety bond to assure his or her faithful performance in an amount that the Department of Revenue would determine and require. The Board of Directors has the ability to fix the amount of the surety bond as long as it abides by the amount that the department requires. SB 53 was enacted on December 22nd, 2008.
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Massachusetts Regional Education Center Public Official Bond
December 6, 2009 by Eric WeisbrotDiscuss: Comments (1)
Category: Commercial Bonds, Surety News
Tags: bond requirements, legislation, MA, Massachusetts, public official bond, Regional Education Center, surety bond
