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74 O.S. § 85.29. Schedule of Amounts of Surety Required

The amount of surety required for each state officer or employee pursuant to Sections 85.26 through 85.31 of this title is as follows:

Department Amount of Bond
Office of the State Treasurer $300,000.00
Oklahoma Employment Security Commission $150,000.00
Central Services Division of the Office of Management and Enterprise Services $100,000.00
Insurance Commission $100,000.00
Office of the State Auditor and Inspector $50,000.00
Finance Division of the Office of Management and Enterprise Services $50,000.00
Bank Commissioner $50,000.00
Commissioners of the Land Office $50,000.00
Oklahoma Securities Commission $50,000.00
Oklahoma Tax Commission $50,000.00
Department of Human Services $50,000.00
Oklahoma Public Employees Retirement System $50,000.00
Corporation Commission $50,000.00
State Board of Education $50,000.00
Finance Division $150,000.00
All Others $25,000.00
Department of Transportation $25,000.00
Boards of Regents of Oklahoma Universities and Colleges $50,000.00
Office of Attorney General $10,000.00
The University Hospitals $50,000.00
All Other State Departments, Agencies, Institutions, Commissions, Authorities, and other bodies of state government $10,000.00

Provided, however, that nothing in the Oklahoma Central Purchasing Act shall prohibit any head of a department, institution, agency, commission, authority or other body of state government from requiring the Central Purchasing Division to purchase increased amounts of blanket bond coverage for his employees up to a total maximum coverage of Fifty Thousand Dollars ($50,000.00) when the listed amount is deemed inadequate. The cost of increased coverage shall be borne by the department, institution, agency, commission, authority or other body of state government requesting the increased coverage.

Associated Attorney General Opinions

Purchase of an additional surety bond to supplement the blanket bond contemplated under 74 O.S. § 85.29 is not authorized under related statutes in the Central Purchasing Act and the amounts set forth in §85.29 are controlling with respect to the authority provided in §85.28. Section 85.31 expressly transfers and confers upon the Purchasing Division the authority to purchase any official, surety and blanket bonds or surety contract authorized by state law.

Note: this Opinion was issued prior to enactment of 74 O.S. §85.58A et seq., which tasks OMES Risk Management with obtaining these blanket bonds.

See 74.O.S. §§85.26 through 85.31.

Purchasing Reference Guide

References

Attorney General Opinions

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Oklahoma City, OK 73105

 

 

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