The amount of any required bond is determined by the total funds
handled during a fiscal year by each ``person'' bonded, and any
predecessors of such ``person''. The term ``person'', however, is
defined in section 3(d) of the Act to include ``one or more'' of the
various individuals or entities there listed, so that there may be
numerous instances where the bond of a ``person'' may include several
individuals. Wherever this is the case, the amount of the bond for that
``person'' would, of course, be based on the total funds handled by all
who comprise the ``person'' included in the bond, without regard to the
precise extent to which any particular individual might have handled
such funds. This would be the situation, for example, in many cases of
joint or group activity in the performance of a single function. It
would also be true where various individuals performed the same type of
function for an organization, even though they acted independently of
one another. There would, however, be no objection to bonding each
individual separately, and fixing the amount of his bond on the basis of
the total funds which he individually handled during the year.
