(a) Notwithstanding any other law requiring a county officer or employee to execute a bond as a condition of office or employment, a county officer or employee is not required to execute the bond and may perform the duties of office or employment if:
(1) the commissioners court by order authorizes the county to self-insure against losses that would have been covered by the bond; and
(2) the county judge approves the order adopted under Subdivision (1), if the county judge was required to approve the bond under the other law.
(b) An order adopted by the commissioners court under Subsection (a) shall be kept and recorded by the county clerk.