§ 42–2702.05. Requirement for public official bonding.

Each member of the Board shall execute a public official bond in the penal sum of $25,000, and the Executive Director of the Agency shall execute a public official bond in the penal sum of $50,000. Each public official bond shall be conditioned upon the faithful performance of the duties of the person bonded, issued by an indemnity company authorized to transact business as an indemnity company in the District, approved by the Corporation Counsel of the District, and filed in the office of the District Department of Insurance. All costs of the public official bonds shall be borne by the Agency.