(1) The persons authorized to handle district funds, including the person designated to be custodian of district funds under ORS 328.441, shall be bonded in an amount to be determined by law and by the district school board. The board may require bonds on such other persons as the board may determine.
(2) The district school board shall require the district school clerk to be bonded in an amount to be determined by the board as reasonably necessary to protect the district against loss.
(3) The costs of bonds under subsections (1) and (2) of this section shall be paid by the district school board in the same manner as other expenses of the district are paid. All bonds shall be justified by a surety company authorized to do business in this state. [1965 c.100 §161; 1975 c.770 §28]Section: Previous 332.470 332.505 332.507 332.510 332.511 332.515 332.520 332.525 332.530 332.531 332.534 332.535 332.540 332.544 332.545 Next
Last modified: August 7, 2008