(a) The Director of the Department of Finance and Administration shall be at least thirty (30) years of age, of good moral character, and of demonstrated ability in the field of his or her employment.
(b) Before entering upon his or her duties of employment, the director shall take, subscribe, and file in the office of the Secretary of State an oath or affirmation to support the United States Constitution and the Arkansas Constitution and to faithfully discharge the duties of the employment upon which he or she is about to enter.
(c) (1) The director shall furnish bond to the state, with a corporate surety thereon, in the penal sum of ten thousand dollars ($10,000), conditioned upon the faithful performance of his or her duties and for the proper accounting for all funds received and disbursed by him or her.
(2) The director shall be the disbursing agent for the Department of Finance and Administration but shall not be required to furnish additional bond as that disbursing agent, nor shall he or she be required to furnish additional bond as disbursing agent of other appropriations for which he or she may be designated disbursing agent under or pursuant to any law of this state unless so directed by the General Assembly.
(3) The director, if he or she deems it advisable, may require other employees of his or her office to furnish bond, in such penal sums as he or she shall determine.
(4) (A) The original of the bond of the director shall be filed in the office of the Secretary of State, and an executed counterpart thereof shall be filed in the office of the Auditor of State.
(B) Any bonds which may be required of employees shall be filed with the director.