SB 5354 is a new Washington State law that was enacted relating to a county public hospital capital facility. The new law directs the county treasurer to serve as the treasurer for a county public hospital capital facility. It also authorizes the hospital’s commission to choose and appoint its own treasurer, who must acquire a surety bond in a quantity that the commission will establish. SB 5354 authorizes the hospital to require any member of staff managing the hospital’s funds or securities to attain a surety bond. The new law also calls for a surety bond from depositories holding hospital funds in a quantity nt less than the quantity deposited.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.