HB1626

House Bill 1626 amends Arkansas law concerning the Self-Insured Fidelity Bond Program for participating governmental entities. The bill establishes that a participating governmental entity’s involvement in the Self-Insured Fidelity Bond Program is sufficient to satisfy any other statutorily required bond requirements under state law. The legislation includes an emergency clause, stating that it is necessary to resolve uncertainty regarding bond coverage and to protect entities against potential fraud, theft, or malfeasance by public officials or employees. By clarifying that program participation meets all statutory bonding mandates, the bill aims to ensure consistent coverage for these entities. The act is intended to take effect immediately upon being signed by the Governor or otherwise becoming law.