State Officers and Employees – Required Surety Bonds – Insurance Policies Authorized

This bill allows state officers and employees who handle public funds to be covered by insurance policies instead of the traditional surety bonds that were previously required. It transfers the responsibility for approving these financial protections from the Maryland State Employees Surety Bond Committee to the State Treasurer. The legislation repeals the specific laws that established the old committee and its related procedures while updating various state codes to reflect these new options.