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

This Maryland bill allows state officers and employees who manage public funds or property to be covered by insurance policies instead of the traditional surety bonds previously required. It transfers the responsibility for determining the type and amount of this coverage from a dedicated surety bond committee to the State Treasurer. By repealing the laws that established the committee and its specific rules, the legislation streamlines the process while maintaining financial protections for the state.