Okla. Stat. tit. 74, § 74-85.58V
This is the official text of Okla. Stat. tit. 74, § 74-85.58V, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Purchasing Division to purchase all bonds - Payment of
Official statutory text
premiums - Approval.
A. Whenever any officer, statutory board, commission,
committee, department, authority, or any state agent or agency by
whatever name called, is authorized by any law of this state to
purchase any official bond, surety bond, blanket bond, or surety
contract upon any state officer or employee, the authority is hereby
transferred and conferred upon the Purchasing Division of the Office
of Management and Enterprise Services. The authority shall be
exercised by the Purchasing Division in the manner pursuant to the
provisions and requirements prescribed by Section 85.58A of this
title.
B. The premium for a bond will be invoiced to the Purchasing
Division and paid for by legislative appropriation set aside for
that specific purpose.
C. If the legislative appropriation is insufficient to meet the
cost of a bond, the State Purchasing Director in conjunction with
the State Risk Administrator shall assess each entity covered by the
bond a pro rata share of the excess cost amount.
D. A blanket bond shall be approved as to form and legal
sufficiency by the general counsel of the Office of Management and
Enterprise Services and shall be filed with the Director of the
Office of Management and Enterprise Services.
A. Whenever any officer, statutory board, commission,
committee, department, authority, or any state agent or agency by
whatever name called, is authorized by any law of this state to
purchase any official bond, surety bond, blanket bond, or surety
contract upon any state officer or employee, the authority is hereby
transferred and conferred upon the Purchasing Division of the Office
of Management and Enterprise Services. The authority shall be
exercised by the Purchasing Division in the manner pursuant to the
provisions and requirements prescribed by Section 85.58A of this
title.
B. The premium for a bond will be invoiced to the Purchasing
Division and paid for by legislative appropriation set aside for
that specific purpose.
C. If the legislative appropriation is insufficient to meet the
cost of a bond, the State Purchasing Director in conjunction with
the State Risk Administrator shall assess each entity covered by the
bond a pro rata share of the excess cost amount.
D. A blanket bond shall be approved as to form and legal
sufficiency by the general counsel of the Office of Management and
Enterprise Services and shall be filed with the Director of the
Office of Management and Enterprise Services.
Status: in_force · Read it on the official government site
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