Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Security may be required from banking officers and employees
Insurance (ISC) CHAPTER 28, ARTICLE 41
§ 4121. Security may be required from banking officers and employees.
(a) The board of directors or trustees of each bank, trust company,
savings bank or savings and loan associations in this state, may require
from each officer and employee thereof an individual fidelity bond in
favor of the institution in an amount and form approved by such board of
directors or trustees.

(b) Such bond shall be accepted only from a corporation authorized to
issue fidelity bonds and doing business in this state under the
authority of the department.

(c) The premium for such bond may be paid as a necessary expense of
any such banking institution.