Section 30.020

Title IV EXECUTIVE BRANCH

Chapter 30

Effective - 28 Aug 1959   

  30.020.  Bond — approval. — 1.  Immediately after his election or appointment, the state treasurer shall execute and deliver to the governor a surety bond to the state in the sum of five hundred thousand dollars to be approved by the governor and conditioned for the faithful performance of all his duties as state treasurer or ex officio, and for the safety of the state funds and securities in his custody or under his control.

  2.  If the bond is furnished by a corporate surety company the premium shall be paid by the state.  The governor shall require the corporate surety to be duly licensed and authorized to do business in this state.

  3.  If the bond is a personal bond, it shall be renewed every two years or oftener if the governor requires and the safety of the public moneys and securities demands.  Each personal surety shall subscribe and swear to a statement to be duly attested and endorsed on or attached to the bond, that he believes he is worth a certain stated sum, over and above all liabilities and exemptions, and any other particulars the governor requires.

  4.  After the legality of the bond has been passed upon by the attorney general, it shall be submitted to the governor for his approval.  If the governor approves the bond, he shall endorse the approval and its date thereon and deliver the bond, with the affidavit of the surety if a personal bond, to the secretary of state to be filed and recorded in his office.  If the governor doubts the solvency of any of the bondsmen, he may require further evidence of solvency before he approves the bond.

­­--------

(RSMo 1939 § 13012, A.L. 1945 p. 1977 § 2, A.L. 1959 H.B. 117)

Prior revisions: 1929 § 11390; 1919 § 13287; 1909 § 11799