A notary bond is a financial guarantee bond that ensures the notary will fulfil all obligations to protect the public from financial harm while the notary is performing notarial duties.
A person who is applying to become a notary public needs to purchase a notary bond if the state requires it. Often, the state will also require or highly recommend E&O coverage along with the notary bond.
What are Public Official Bonds?
Public official bonds are a type of surety bond that protects the government and its citizens from dishonest or negligent acts by someone who holds a public office, especially when it comes to those officials that deal with money or privileged information. The purpose behind a public official bond is to ensure the public will be reimbursed if the official does not faithfully perform the duties of the office.
There are many different types of public official bonds, and they are determined by the requirements of specific state or local laws. Common public officials who need bonds include court clerks, commissioners, deputies, sheriffs, law enforcement offices, tax collection personnel, city managers, treasurers, judges, mayors, or other types of city officials.