Alabama Public Official Bond |
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Surety Bond of Public Officials – Alabama
Before assuming office, a number of categories of Alabama public officials must first file a surety bond as a prerequisite before doing so.
Our goal as an agency is to make the process of obtaining your surety bond as streamlined as possible.
Below, we will discuss a number of categories of public officials who statutorily require a bond. However, if your category is not mentioned – and you are a public official who requires a surety bond — we will still likely be able to accommodate that need.
A Word About Easy Qualification
For the Alabama public official bond, any amount up to and including $100,000, will be issued upon completion of a surety application and payment of at least the first year premium. There is neither a credit inquiry nor an underwriter review.
For amounts greater than $100,000, if you meet certain criteria, you may still qualify for streamlined processing of your bond. If you do not, you will still qualify for rates that are quite favorable. It is likely, however, that your surety bond amount will be under the $100,000 threshold.
Alabama Probate Judges:
Alabama probate judges must file a surety bond as a condition of assuming office. There is a statutorily mandated formula for determining the amount of surety bond required. However, when you call us, we will always need you to tell us of the bond amount you need.
Broken down, the amount is as follows based on the dollar amount of annual collections:
- Zero to $250,000 requires a $25,000 surety bond;
- $250,000 to $1,000,000 requires a $25,000 surety bond, plus 5% of excess over $250,000;
- $1,000,000 and above requires a surety bond of $62,500, plus 1% of excess over $1,000,000.
Alabama chief clerks must supply a bond in amount as required before assuming and taking the oath of office.
Alabama County Officials
All county officials in Alabama must file a surety bond of at least $25,000 before assuming office. This excludes the bond required of a probate judge.
- A circuit court clerk and register of the circuit clerk must be bonded for at least $5,000.
- A superintendent must have a bond of at least $1,000.
- Alabama constables and county surveyors must have a $1,000 bond.
- County health officers must have a $10,000 surety bond.
If you are an Alabama county treasurer, you will be required to obtain a $15,000 surety. The amount goes to at least $50,000 if the county in which you are treasurer has a population greater than 150,000 people.
The Surety Bond’s Purpose
The Alabama public official bond is a financial guarantee which protects the state of Alabama from acts of fraud, theft, or malfeasance on the part of an officeholder. It is not an insurance policy which protects the individual purchasing the surety bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surety bonds throughout Alabama. Our agency also provides surety bonds nationwide.
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