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74 O.S. § 85.26. Purchase of Blanket Bond for State Officers and Employees - Definition - Bond Exclusive

The Purchasing Division of the Office of Management and Enterprise Services is directed to purchase from the lowest bidder a surety contract or contracts in the form known as a “blanket bond” to cover all elective state officers, appointive officers, and employees in the manner provided in this section. 

No other bond shall be acceptable as surety for any elected or appointed officer or employee of this state in lieu of said blanket bond. For purposes of Sections 85.26 through 85.31 of this title, a “blanket bond” is defined as a public employees’ blanket position bond which covers all employees up to the penalty of the bond for each employee and the full penalty of the bond is always in force during its term and no restoration is necessary and there is no additional premium after a loss is paid.

Associated Attorney General Opinions

Purchase of an additional surety bond to supplement the blanket bond contemplated under 74 O.S. § 85.29 is not authorized under related statutes in the Central Purchasing Act and the amounts set forth in §85.29 are controlling with respect to the authority provided in §85.28. Section 85.31 expressly transfers and confers upon the Purchasing Division the authority to purchase any official, surety and blanket bonds or surety contract authorized by state law.

Note: this Opinion was issued prior to enactment of 74 O.S. §85.58A et seq., which tasks OMES Risk Management with obtaining these blanket bonds.

See 74.O.S. §§85.26 through 85.31.

Purchasing Reference Guide


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