This bill amends current law regarding the insurance policies that public officers are required to obtain. Specifically, it removes the requirement that the insurance policy must name the state as the beneficiary and be for the use and benefit of any corporation, public or private, or person who has sustained a loss. This change follows a 2024 provision that allowed public officers to obtain an insurance policy instead of a bond, but the existing requirements for the insurance policy are now being eliminated.

The bill is deemed to be of immediate importance and takes effect upon enactment. By striking the relevant subsection from the law, the bill simplifies the requirements for public officers regarding insurance policies, potentially providing them with greater flexibility in how they manage their financial responsibilities.

Statutes affected:
Introduced: 64.3