The State Bonding Fund provides fidelity bond coverage to the State of North Dakota and its political subdivisions including counties, townships, cities, park districts and school districts. The bond issued by the Fund is a fidelity bond, which covers public officials and employees for theft of money and property by public officials and employees.
The Fund was established by the Legislature in 1919. No premium has been charged for this coverage since 1953. Collection of premiums must resume if the Fund reserve is depleted below $2 million. Currently, the fund has 2,978 bondholders with total coverage in force of $681,512,932 (as of 12/31/12).
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