N.H. Admin. Code § Rev 2208.01

Current through Register No. 50, December 12, 2024

Section Rev 2208.01 - Format Requirements for Bond Instruments

(a) The position schedule bond may be issued for either a one-year or a multiple-year period of coverage.

(b) If a multiple-year period of coverage is issued, the bond shall:

(1) State that the amount of coverage per position shall be on a yearly basis; and

(2) Be cumulative to the extent of such limits in each year of the bond.

(c) The position schedule bond(s) shall:

(1) Present a schedule showing the:

a.Name of the elected or appointed officials that are covered;

b.Number of officials occupying each such position; and

c.Amount of coverage on each official;

(2) Indicate the beginning and ending term dates;

(3) Include the signatures of the attorney-in-fact and the witness to the attorney-in-fact; and

(4) If extended, be extended by means of a continuation certificate which:

a.Becomes effective as of the anniversary of the initial date of the position schedule bond in order to provide continuous coverage;

b.States the beginning and ending term dates;

c.States the new amount of coverage for each official;

d.Stipulates that the limit of the coverage for each position stated in the original bond and all continuations of that original bond shall be cumulative to the extent of the limits stated in the original bond in each year;

e.Includes the signatures of the attorney-in-fact and the witness to the attorney-in-fact; and

f.Is intended by the parties to have the legal effect of a new and separate obligation issued for the period stated therein.

N.H. Admin. Code § Rev 2208.01

#5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06; ss by #9486, eff 6-23-09

Amended byVolume XXXIV Number 33, Filed August 14, 2014, Proposed by #10652, Effective 8/8/2014, Expires8/8/2024.