17-5315. Indemnity bonds; required of directors, officers, employees, and agents.
17-5315
17-5315. Indemnity bonds; required of directors, officers, employees,
and agents.
All directors, officers and employees of an association having control
of or access to moneys or securites of such association shall, before
entering upon the performance of any of their duties, execute their
individual or blanket bonds with adequate corporate surety authorized to do
business in this state payable to the association as an indemnity for any
pecuniary loss the association may sustain of money or other property by or
through any fraud, dishonesty, forgery or alteration, larceny, theft,
embezzlement, robbery, burglary, holdup, wrongful or unlawful abstraction,
misapplication, misplacement, destruction or misappropriation, or any other
dishonest or criminal act or omission, by any such director, officer,
employee or agent.
History: L. 1943, ch. 133, § 44; July 1.