This bond guarantees that Indiana public officials will faithfully perform their duties, comply with state financial laws, and properly account for public funds. Bond amounts vary by office and are calculated based on fiscal receipts, with minimum amounts ranging from $5,000 for general employees to $30,000 for fiscal…
Overview
What it is.
This bond guarantees that Indiana public officials will faithfully perform their duties, comply with state financial laws, and properly account for public funds. Bond amounts vary by office and are calculated based on fiscal receipts, with minimum amounts ranging from $5,000 for general employees to $30,000 for fiscal…
Who usually needs it
Elected or appointed state and local public officials in Indiana who handle public funds or have official duties, including city judges, controllers, clerks, clerk-treasurers, county auditors, treasurers, sheriffs, and other local officers, employees, or contractors designated by statute or local fiscal bodies.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateINBond amount$5,000ObligeeState of IndianaBond classMiscellaneous CommercialCategoryGovernmentBondState Public Official BondPlain descriptionThis bond guarantees that Indiana public officials will faithfully perform their duties, comply with state financial laws, and properly account for public funds. Bond amounts vary by office and are calculated based on f…Who needs this bondElected or appointed state and local public officials in Indiana who handle public funds or have official duties, including city judges, controllers, clerks, clerk-treasurers, county auditors, treasurers, sheriffs, and …
FAQ
Common questions.
What is the bond amount for Indiana state public officials?
Bond amounts vary by office and are calculated based on the office's fiscal receipts from the prior year. Minimum amounts are $5,000 for general employees, $15,000 for positions like city judges and clerks, and $30,000 for fiscal officers such as clerk-treasurers, controllers, county auditors, treasurers, and sheriffs. The standard formula is $30,000 per $1,000,000 in receipts, with a typical maximum of $300,000 (though the State Board of Accounts may approve higher amounts). Your specific bond amount is set by your local fiscal body or governing statute.
When must Indiana public officials obtain their bond?
The bond must be obtained and filed before taking office. Under Indiana Code 5-4-1-9, officials cannot legally assume their duties until the bond is properly filed. The bond must be approved by the designated approving authority (such as the city executive for most city officers), then filed with the County Recorder's office within 10 days of issuance or approval. A copy must also be uploaded with the State Board of Accounts Annual Financial Report.
What happens if an Indiana public official violates their bond?
If an official breaches their duties (such as misconduct, negligence, failure to properly account for funds, or non-compliance with Indiana Code 5-11), the State of Indiana or affected parties can file a claim against the surety bond. The surety company will investigate the claim and, if valid, pay damages up to the bond amount to compensate for losses. The bonded official (principal) is then legally obligated to reimburse the surety company for the full amount paid out, plus any associated costs.
