New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 1900 - MUNICIPAL MATTERS
Part Rev 1903 - SURETY BONDING OF MUNICIPAL OFFICIALS
Section Rev 1903.02 - Format Requirements for Bond Instruments
Universal Citation: NH Admin Rules Rev 1903.02
Current through Register No. 12, March 21, 2024
(a) Pursuant to RSA 41:6, the position schedule bond may be issued for either a one-year or a multiple-year period of coverage.
(b) A multiple-year period of coverage bond shall:
(1) State that the amount of coverage
per position shall be on a yearly basis; and
(2) Be cumulative to the extent of such
limits in each year of the bond.
(c) All position schedule bond(s) shall:
(1) Present a schedule showing:
a. Names of the elected or appointed
officials that are covered;
b. The
number of officials occupying each position; and
c. The amount of coverage on each
official;
(2) Indicate
the beginning and ending term dates; and
(3) Include the signatures of the
attorney-in-fact and the witness to the attorney-in-fact.
(d) The position bond schedule shall be extended by means of a continuation certificate which:
(1) Becomes effective on the anniversary of
the initial date of the position schedule bond in order to provide continuous
coverage;
(2) States the beginning
and ending term dates;
(3) States
the new amount of coverage for each official;
(4) Stipulates the limit of the coverage for
each position stated in the original bond and all continuations of that
original bond shall be cumulative to the extent of the limits stated in the
original bond in each year;
(5)
Includes the signatures of the attorney-in-fact and the witness to the
attorney-in-fact; and
(6) Is
intended by the parties to have the legal effect of a new and separate
obligation issued for the period stated therein.
#5356, eff 3-16-92, EXPIRED: 3-16-98
New. #6732, eff 4-18-98; ss by #8599, eff 4-6-06; ss by #10582, eff 5-2-14
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