State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-90

§53‑90.  Officers and employees shall give bond.

The active officers andemployees of any bank before entering upon their duties shall give bond to thebank in a bonding company authorized to do business in North Carolina, in theamount required by the directors and upon such form as may be approved by theCommissioner of Banks, the premium for same to be paid by the bank. TheCommissioner of Banks or directors of such bank may require an increase of theamount of such bond whenever they may deem it necessary. If injured by thebreach of any bond given hereunder, the bank so injured may put the same insuit and recover such damages as it may have sustained. (1921,c. 4, s. 61; Ex. Sess., 1921, c. 18; C.S., s. 221(m); 1927, c. 47, s. 11; 1929,c. 72, s. 2; 1931, c. 243, s. 5.)