§ 28-7-1-31 — Fidelity coverage for directors, officers, and employees with access to money or bonds; blanket fidelity bond or separate reserve fund required

Every credit union shall make provisions for
adequate fidelity coverage for all directors, officers, and employees
having access to money or bonds of the credit union. The amount and
form of fidelity coverage must be approved annually by the board of
directors of the credit union. Coverage may be provided:
(1) in the form of a blanket fidelity bond issued by a corporate
surety authorized to transact business in Indiana; or
(2) through the establishment of a separate reserve fund within
the credit union for that purpose.
Formerly: Acts 1961, c.182, s.31. As amended by P.L.276-1987,
SEC.4; P.L.263-1995, SEC.27; P.L.35-2010, SEC.167; P.L.29-2022,
SEC.10.