Employees of the Office of State Finance are affected by a new law that was enacted in the state of Oklahoma. The new law is named HB 2015 and alters the surety bond required of officials and staff of the Office of State Finance sanctioned to approve claims and payrolls. HB 2015 boosts the surety bond amount from a quantity that is no more than $25,000 to a quantity that is no less than $50,000; the Director of the Office of State Finance will establish this amount. The new law subjects all these officials to this surety bond requirement, while the previous law made it relevant to all officials not already under any other surety bond for such reasons. HB 2015 became active on July 1st, 2009.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.