Kentucky Sheriff's Repayment of Advancements Bond Guide
If you’re taking office as a sheriff in Kentucky, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure sheriffs properly account for and handle advanced funds
- Who Needs It: Sheriffs preparing to take office in Kentucky
- Regulating Body: The Kentucky Finance and Administration Cabinet
- Required Coverage: $1,000–$100,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a Kentucky Sheriff's Repayment of Advancements Bond?
A Kentucky sheriff's repayment of advancements bond ensures sheriffs properly account for and handle advanced funds entrusted to them.
How Much Do Sheriff's Repayment of Advancement Bonds Cost?
A Kentucky sheriff repayment bond cost a small percentage of the required coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Sheriff's Repayment of Advancements Bond?
The Kentucky Finance and Administration Cabinet requires this bond as part of the licensing process for all sheriffs in the state. It protects the state from financial loss if a sheriff mishandles or overdraws funds.
Any sheriff can request a salary advancement to cover necessary official expenses. The Cabinet secretary reviews and determines the allowed advancement amount on the first day of each month.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Kentucky sheriff's repayment of advances bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the Cabinet as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Kentucky Sheriff’s Repayment of Advancement Bond Work?
As with all surety bonds, a sheriff's repayment of advancements bond creates a legal contract between three parties:
- Principal: You, the sheriff filing the bond
- Obligee: The Kentucky Finance and Administration Cabinet requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Kentucky Revised Statutes 64.140.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your sheriff's repayment of advances bond, simply pay your renewal invoice when prompted.
After renewing, you’ll receive a continuation certificate to file with the as proof of ongoing coverage.