Sec. 653.004. AUTHORITY TO PURCHASE BONDS. (a) Notwithstanding any other law that authorizes or requires a state officer or employee to obtain a surety bond, a state agency may purchase a surety bond for a state officer or employee only if: (1) required by the constitution of the state or by federal law or regulation; (2) required by court order; or (3) approved by the office. (b) The office may approve the purchase of a surety bond if: (1) the office finds that the surety bond is warranted by a substantial or unusual risk of loss; or (2) the office otherwise determines that the purchase of a surety bond is necessary to protect the interests of the state.
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