N.H. Admin. Code § Rev 1903.06

Current through Register No. 45, November 7, 2024

Section Rev 1903.06 - Minimum Bond Requirements for Municipal Officials

(a) The schedule for determining minimum bond requirements shall be:

(1) Based on the amounts of estimated collections for each position bonded;

(2) Computed using Table 1900.1 below:

Table 1900.1 Minimum Bond Requirements

COLLECTIONS From	To	BOND REQUIRED
$1	$ 5,000	$1,000
5,001	10,000	2,000
10,001	20,000	3,000
20,001	35,000	7,000
35,001	50,000	8,000
50,001	65,000	10,000
65,001	80,000	12,000
80,001	100,000	15,000
100,001	140,000	17,000
140,001	180,000	22,000
180,001	220,000	27,000
220,001	260,000	32,000
260,001	300,000	36,000
300,001	375,000	38,000
375,001	450,000	40,000
450,001	550,000	42,000
550,001	650,000	44,000
650,001	750,000	46,000
750,001	850,000	48,000
850,001	925,000	50,000
925,001	1,000,000	52,000
Greater than 1,000,000	52,000, plus 1% of excess of $1,000,000 in estimated revenues

(b) The minimum bond requirements shall apply to the following municipal officials:

(1) Tax collectors;

(2) Deputy tax collectors, except for cities where the deputy shall be bonded at 50% of the estimated taxes collected by the tax collector's office;

(3) Treasurers;

(4) Deputy treasurers;

(5) Municipal clerks;

(6) Deputy municipal clerks; and

(7) Boat fee agents.

(c) The required bond amount for a combined position of municipal clerk and tax collector shall be in the combined amount of the 2 positions.

(d) The amount of the bond required of all trustees of trust funds shall be 15% of all funds in their custody as of the end of the fiscal year.

(e) All trustees of trust funds shall be covered under the same position schedule bond.

(f) The amount of the bond required of library trustees and, pursuant to RSA 41:6, alternate library trustees, if any, who have custody of trust funds pursuant to RSA 202-A:22 and RSA 202-A:23 shall be 15% of all funds in their custody as of the end of the fiscal year.

(g) Additional officials may be bonded at the discretion of the municipality.

N.H. Admin. Code § Rev 1903.06

#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