LAC 40:XIII.131. Bonding

A. Every officer, director, agent or employee of a service delivery area grant subrecipient of JTPA funds on a cash advance basis, who is authorized to act on behalf of a service delivery area grant recipient for the purpose of receiving or depositing funds into program accounts or issuing financial documents, checks or other instruments of payment for program costs shall be bonded to provide protection against loss. The amount of coverage shall be the lower of the following: 1. $50,000; or 2. the highest advance through check or drawdown planned during the contract/subgrant period.