AR Code § 19-1-403 (2020)
2020 Arkansas Code|Title 19 - Public Finance|Chapter 1 - General Provisions|Subchapter 4 - Officers' Surety Bonds|§ 19-1-403. County and municipal officials and employees

 (a)  (1) All county officials and employees, municipal officials and employees, and all other officers and employees of any political subdivision of this state who are required by law to furnish bond and who receive and disburse cash funds from bank accounts shall obtain a surety bond from a corporate surety authorized to do business in this state in the minimum amounts to be computed as follows:  (A) On the first one hundred thousand dollars ($100,000), or any part thereof, of receipts of the office, ten percent (10%) of the amount;  (B) On the next two hundred thousand dollars ($200,000), or any part thereof, of receipts of the office, seven and one-half percent (7½%) of the amount;  (C) On the next two hundred thousand dollars ($200,000), or any part thereof, of receipts of the office, five percent (5%) of the amount;  (D) On the next five hundred thousand dollars ($500,000), or any part thereof, of receipts of the office, two and one-half percent (2½%) of the amount; and  (E) On all amounts in excess of one million dollars ($1,000,000), one percent (1%).    (2) These amounts shall be based on the total cash receipts of the office for the preceding calendar or fiscal year. However, in no event shall the penal amount of any bond be less than the amount as computed in this subsection.  (3) The bonds shall be conditioned that the officer or employee shall faithfully perform the duties of his or her office or employment and properly account for all cash funds received and disbursed by him or her as an officer or employee.    (b)  (1) All county officials and employees, municipal officials and employees, and all other officers and employees of any political subdivision of this state who are required by law to furnish bond and who receive or approve the disbursement of any funds appropriated and disbursed through the State Treasury shall obtain a bond in the following minimum amounts based on the disbursements of the agency during the preceding calendar or fiscal year:  (A) On the first one hundred thousand dollars ($100,000), or any part thereof, of disbursements, five percent (5%) of the amount;  (B) On the next four hundred thousand dollars ($400,000), or any part thereof, of disbursements, two and one-half percent (2½%) of the amount; and  (C) On all disbursements in excess of five hundred thousand dollars ($500,000), one-half of one percent (½ of 1%) of the amount.    (2) The provisions of subsection (a) of this section shall apply in determining the bond requirements of all officers and employees handling both cash funds and moneys appropriated and disbursed from the State Treasury.  (3) The bond shall be conditioned that the officer or employee shall faithfully perform the duties of his or her office or employment and properly account for the disbursement of funds.    (c) The maximum amount of any bond required under subsections (a) and (b) of this section shall not exceed five hundred thousand dollars ($500,000).  (d) The Legislative Auditor shall inform municipal and county officials of the requirements set forth in this subchapter regarding the determination of the amount of bond for the officials. However, it shall not be the duty of the Legislative Auditor to set the bond of municipal and county officials.  (e)  (1) The original of each bond required by this section to be filed by a county officer or employee shall be filed in the office of the circuit clerk in the county involved.  (2) The original of each bond required by this section to be filed by municipal officials and employees shall be filed in the office of the municipal clerk of the municipality involved.