This bill proposes significant amendments to the North Dakota Century Code, primarily focusing on the management of the state bonding fund. It transfers oversight from the insurance commissioner to the office of management and budget, which will now handle the fund's operations and administrative services. Key changes include establishing a continuing appropriation for the fund, requiring the office to collect assessments from state agencies and political subdivisions based on the fund's balance, and introducing a minimum bond assessment. The bill also clarifies definitions, such as specifying that "office" refers to the office of management and budget and refining the term "public employee" to exclude certain individuals employed by occupational and professional boards.
Additionally, the bill outlines new procedures for managing claims against the public fund, including the establishment of a claims register and the responsibilities of the office in reviewing claims and notifying the state auditor of defaults. It mandates that actions against the fund must be initiated within one year of presenting a claim and allows public officials to secure additional bond coverage if their bond is canceled. The bill also repeals several sections of existing law to streamline processes and update language to reflect the new procedures, ultimately aiming to enhance accountability and oversight in the administration of the state bonding fund.
Statutes affected: INTRODUCED: 23-24-07, 26.1-01-03, 26.1-21-01, 26.1-21-02, 26.1-21-04, 26.1-21-07, 26.1-21-09.1, 26.1-21-10, 26.1-21-11, 26.1-21-12, 26.1-21-14, 26.1-21-16, 26.1-21-18, 26.1-21-19, 26.1-21-21, 26.1-21-23, 61-06-08, 61-16.1-05
PREFILED: 23-24-07, 26.1-01-03, 26.1-21-01, 26.1-21-02, 26.1-21-04, 26.1-21-07, 26.1-21-09.1, 26.1-21-10, 26.1-21-11, 26.1-21-12, 26.1-21-14, 26.1-21-16, 26.1-21-18, 26.1-21-19, 26.1-21-21, 26.1-21-23, 61-06-08, 61-16.1-05