Sec. 5. (a) This section applies notwithstanding any other statute.

     (b) Whenever the state or an instrumentality of the state pays for a bond or crime insurance policy endorsed to cover the faithful performance of duty of an employee of the state or an instrumentality of the state (including a public official or deputy), the bond or crime insurance policy must, when feasible, cover all of the employees in:

(1) an individual state agency or instrumentality; or

(2) two (2) or more state agencies or instrumentalities specified in the blanket bond or crime insurance policy.

The Indiana department of administration may require two (2) or more state agencies to obtain a joint blanket bond or crime insurance policy endorsed to include faithful performance.

     (c) The commissioner of insurance shall prescribe the form of the bonds or crime policies required by this section.

As added by P.L.14-1986, SEC.10. Amended by P.L.49-1995, SEC.5.