Surety Bonds and Bonding of College Employees Policy

Policy Number
Board of Trustees
Date Approved
Effective Date
Responsible Division
Finance and Administrative Services
N.C. Gen. Stat. §115D-58.10

The State of North Carolina has its own blanket bond for employees handling state funds at no cost to the College.

The following categories of employees shall be bonded or insured by a surety or insurance company authorized to do business in North Carolina at an amount, to be determined by the President, which sufficiently protects the College’s property and funds: 

  1. All employees authorized to draw or approve checks or vouchers drawn on local funds; 
  2. All employees authorized or permitted to receive College funds from whatever source; and 
  3. All employees responsible for or authorized to handle College property.

The College shall provide the funds necessary for the payment of the premiums of such bonds.