Colorado § 11-41-126 Bonds of officers

Colorado Statutes

§ 11-41-126 — Bonds of officers

Colorado·Title 11 Financial·Art. Organization and Powers

Every officer, employee, and agent handling or
having custody or charge of funds or securities belonging to a savings and loan
association, before entering upon the discharge of the officer's, employee's, or
agent's duties, shall give a good and sufficient bond in the sum fixed by the board
of directors of any such association. The bond must be in the form and provide
coverage as the commissioner may direct and must be made by a surety
corporation authorized to do business in this state. The amount of the bond as to
each person is subject to the approval of the commissioner. In lieu of individual
bonds, a blanket bond covering all active officers, agents, and employees of an
association may be executed, subject to approval by the commissioner. Every bond
is in force until ten day

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Every officer, employee, and agent handling or
having custody or charge of funds or securities belonging to a savings and loan
association, before entering upon the discharge of the officer's, employee's, or
agent's duties, shall give a good and sufficient bond in the sum fixed by the board
of directors of any such association. The bond must be in the form and provide
coverage as the commissioner may direct and must be made by a surety
corporation authorized to do business in this state. The amount of the bond as to
each person is subject to the approval of the commissioner. In lieu of individual
bonds, a blanket bond covering all active officers, agents, and employees of an
association may be executed, subject to approval by the commissioner. Every bond
is in force until ten days after notice is provided to the commissioner that the bond
is to be canceled.

Colorado § 11-41-126 (Bonds of officers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 33: p. 362, � 22. CSA: C. 25, � 90. L. 39: p. 255, � 31. CRS 53: � 122-2-26. C.R.S. 1963: � 122-2-26. L. 2024: Entire section amended, (HB 24-1381), ch. 350, p. 2373, � 28, effective August 7.