A.  Notwithstanding any other provision of law to the contrary, the office of risk management may, at its option, self-insure bonds for public officers where such bond coverages are procured through the office of risk management in accordance with other provisions of this Chapter.  Upon issuance such self-insured bonds may be substituted for other public officer bonds.

B.  Notwithstanding any other provision of the law to the contrary, the office of risk management may, at its option, self-insure notarial bonds where such bond coverages are procured through the office of risk management in accordance with other provisions of this Chapter, and upon issuance, such self-insured bonds may be substituted for other notarial bonds.

C.  Notwithstanding any other provision of the law to the contrary, no self-insured public officer or notarial bond issued by the office of risk management shall operate as a mortgage against the property of the surety.

Acts 1988, No. 50, §1.