Before entering upon the duties of office, the Director of the Department of State Lands shall take an oath to perform faithfully the duties of the director. The director shall give to the state a fidelity bond, with one or more corporate sureties authorized to do business in this state, in a penal sum fixed by the State Land Board. The premium on the bond shall be paid from moneys available for the payment of expenses of the Department of State Lands.
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