Policy 6.2.3 - Surety Bonds

The following categories of employees shall be bonded by a surety company authorized to do business in North Carolina at an amount, to be determined by the President, which sufficiently protects the College’s property and funds:

1. All employees authorized to draw or approve checks or vouchers drawn on local funds;

2. All employees authorized or permitted to receive College funds from whatever source; and

3. All employees responsible for or authorized to handle College property. The College shall provide the funds necessary for the payment of the premiums of such bonds.

Legal Reference: N.C.G.S. § 115D-58.10

Adopted: January 9, 2019