HSB 597

_____ the explanation’s substance by the members of the general assembly. This bill relates to bonds and insurance policies for public officers. The bill allows a public officer that is required to obtain a bond pursuant to Code chapter (official and private bonds) to instead obtain an insurance policy in an amount not less than the amount required of a bond for that officer. The bill requires that the terms of the insurance policy substantially comply with the terms required of an official bond. If the reasonable expenses of a bond would be paid for by a county or township, the bill requires the reasonable expenses of the insurance policy obtained in lieu of a bond to also be paid by that county or township. The state of Iowa shall be the beneficiary of an insurance policy obtained in lieu of a bond, and the bill requires the insurance policy to be approved, filed, and recorded in the same manner as a bond for a public officer. The bill changes the circumstances under which an officer can be removed from office for failure to give a bond. The bill allows an officer to be suspended from office after acting in an official capacity without giving a required bond until the officer gives an appropriate bond. If an officer who has been suspended from office for failure to give a bond does not give a bond after a reasonable time, the bill allows the officer to be removed from office.