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BULLET St. Louis City Revised Code Chapter 4.14 Fidelity Bonds

St. Louis City Revised Code (annotated) has been converted to electronic format by the staff of the St. Louis Public Library. This electronic version has been done for the interest and convenience of the user. These are unofficial versions and should be used as unofficial copies.

Official printed copies of St. Louis City Revised Code may be obtained from the Register's Office at the St. Louis City Hall.



Chapter 4.14
Fidelity Bonds

Sections:

4.14.010 Bond required.
4.14.020 Approval of bonds--Surety.
4.14.030 Renewals.
4.14.040 Blanket bonding.
4.14.050 Order to renew--Failure.
4.14.060 New bond.
4.14.070 Petition for discharge--Allowed.
4.14.080 Petition for discharge--Contents--To whom addressed.
4.14.090 Petition for discharge--Notification of principal.
4.14.100 Petition for discharge--Publication of notice.
4.14.110 Petition for discharge--Examination--New bond.
4.14.120 Effect of new bond.
4.14.130 Quarterly examination--Report.

Bonds of various officers, see 3.26.010

4.14.010 Bond required.

All officers and employees of the City, not otherwise required by the Charter or an ordinance of the City to give bond, whose duties include the handling of funds of the City, shall execute bond to the City in amounts as the Comptroller shall find necessary to fully protect the City, in form as approved by the City Counselor and with surety as approved by the Comptroller. All premiums on bonds shall be paid by the City.
(1948 C. Ch. 47 4: 1960 C. 43.010.)

For bonds of various officers, see 3.26.010

4.14.020 Approval of bonds--Surety.

Any bond required by the Charter or any amendments thereto or existing or future ordinances to be given by any officer or employee of the City for the faithful performance of duties or to protect the City from loss shall be approved as to its sufficiency by the Comptroller, except in the case of the bond of the Comptroller which shall be approved as to its sufficiency by the Mayor. The surety on each bond shall be either a corporation engaged in the business of furnishing bonds and authorized to transact business in the state or the sureties on the bond shall be not less than two residents of this City owning unencumbered real estate located within the City of ample value above all debts and exemptions to satisfy the bond.
(1948 C. Ch. 23 57: 1960 C. 28.010.)

Charter:

Art. VIII 4 When official bond required; payment of premiums failure to qualify

Art. XXV 4 Approval of official bonds; faithful performance required

V.A.M.S.:

421.750 et seq. Indemnifying bonds to officers--applicable to city of St. Louis.

City Counselor Ops.: 9524

McQuillin:

12.98 Bonds of officers

4.14.030 Renewals.

The Comptroller shall arrange with sureties under Section 4.14.020 for the continuance of their security on bonds by automatic annual renewal thereof so long as the officer or employee bonded thereby retains the office or position.
(1960 C. 28.020: 1948 C. Ch. 23 58.)

City Counselor Ops.: 9524

4.14.040 Blanket bonding.

The Comptroller may arrange for the bonding of the various offices or positions, irrespective of the persons holding the same, under the form of a blanket policy, the same to be renewable from year to year by payment of renewal premiums and to be subject to such alterations from time to time by arrangements negotiated by the Comptroller as the Comptroller may in his discretion deem necessary.
(1960 C. 28.030: 1948 C. Ch. 23 59.)

4.14.050 Order to renew--Failure.

The Comptroller shall have power to order the renewal of any bond held by the City from any person in pursuance of any ordinance, whenever in his judgment the bond has become, or is likely to become, impaired through any cause whatsoever. A failure to renew the bond by the parties interested, to the satisfaction of the Comptroller, within fifteen days after the date of notification to renew, shall operate to work a forfeiture of all the rights and privileges granted by the City under the ordinance of which the bond forms a part.
(1960 C. 28.040: 1948 C. Ch. 23 60.)

4.14.060 New bond.

Whenever any surety of any officer or employee of the City dies, moves from the City, or becomes insolvent or the Mayor shall have reason to believe the security of the bond of any officer is, or is likely to become, insufficient, the Mayor shall require the officer or employee at a time to be appointed, to show cause why a new bond shall not be given, and unless cause be shown, the officer or employee shall be required within twenty days to enter into a new bond, and in default thereof the office or employment shall be vacant and shall be so declared by the Mayor by proclamation.
(1960 C. 28.050: 1948 C. Ch. 47 31.)

Art. XXV 5 When additional official bond required

4.14.070 Petition for discharge--Allowed.

Any person now or hereafter bound as surety in any official bond to the City may present a petition praying for discharge from liability as surety for any subsequent breach of the conditions of the bond.
(1960 C. 28.060: 1948 C. Ch. 47 32.)

4.14.080 Petition for discharge--Contents--To whom addressed.

The petition shall set forth the facts upon which the application for discharge is founded and shall be verified by the affidavit of the petitioner or someone on behalf of the petitioner. This petition shall be addressed to the officer authorized by law to approve bonds of the kind mentioned in the petition.
(1960 C. 28.070: 1948 C. Ch. 47 33.)

4.14.090 Petition for discharge--Notification of principal.

A notice in writing of intended application, together with a copy of the petition, shall be personally served on the principal in the bond at least fifteen days before making the application, unless the principal shall in writing waive the service of notice.
(1960 C. 28.080: 1948 C. Ch. 47 34.)

4.14.100 Petition for discharge--Publication of notice.

If the principal in the bond shall be absent from the state for the period of six months, publication of the notice and petition in the newspapers doing the City publishing once a week for four successive weeks shall be sufficient service of the notice.
(1960 C. 28.090: 1948 C. Ch. 47 35.)

4.14.110 Petition for discharge--Examination--New bond.

The officer to whom the petition is addressed shall consider the application and may in his discretion on examination thereof make an order requiring the principal in the bond to give a new bond in lieu of the old bond, with security for the performance of the conditions named in the bond.
(1960 C. 28.100: 1948 C. Ch. 47 36.)

4.14.120 Effect of new bond.

When a new bond is taken, approved and filed, it shall immediately operate as a discharge of the surety in the former bond from all liability arising from any subsequent breach of the conditions of the former bond. The surety on the former bond shall thenceforth be liable on the former bond only for the breaches thereof as shall have happened prior to the taking, approval and filing of the new bond.
(1960 C. 28.110: 1948 C. Ch. 47 37.)

4.14.130 Quarterly examination--Report.

It is the duty of the Comptroller on the first Mondays of January, April, July and October of each year carefully to examine all official and other bonds to the City and within ten days after each such first Mondays to report in writing to the Mayor any and all bonds which are not in due form of law or of whose sufficiency there is any reasonable doubt.
(1960 C. 28.120: 1948 C. Ch. 47 38.)

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