Bond of treasurer and other designated officers--Amount and conditions of bond--Cost

The treasurer, and other officers and employees the board of directors may designate, shall furnish and maintain a corporate surety bond in the amount of twenty thousand dollars. The bond shall be satisfactory in form and with sureties approved by the board. The bond shall be filed with the secretary of state. The cost of the bond shall be paid by the district. Source: SL 1950 (SS), ch 17, § 28; SDC Supp 1960, § 52.1728; SL 1989, ch 403, § 17.