Indiana § 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

Indiana Statutes

§ 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

Indiana § 28-7-1-31

Art. 7SPECIALIZED FINANCIAL INSTITUTIONS

Ch. 1Credit Unions

This text of Indiana § 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) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-7-1-31 (2026).

Text

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.

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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.