Public officials bond

{
  "id": "MLC-T-INS-002755",
  "term": "Public officials bond",
  "field": "Insurance and risk management",
  "definition": "A type of surety bond that guarantees the faithful performance of duties by elected or appointed public officials. This bond protects the public entity from financial loss resulting from the official's negligence, misconduct, or failure to properly account for public funds. The bond amount is typically set by statute or ordinance.",
  "url": "https://mlchart.com/terminology/insurance/public-officials-bond/"
}