§ 13-5-414 — Fidelity bonds; insurance

(a) The directors or managers of a supervised trust
company shall obtain fidelity bonds of not less than one million
dollars ($1,000,000.00) providing coverage for any active
officers, managers, members acting in a managerial capacity and
employees, whether or not they receive a salary or other
compensation from the supervised trust company, to indemnify the
supervised trust company against loss because of any dishonest,
fraudulent or criminal act or omission by any of the persons
bonded, acting alone or in combination with any other person.
The bonds may be in any form and may be paid for by the
supervised trust company.
(b) A supervised trust company may also procure property
and casualty insurance of a nature and with such coverage
amounts as the supervised trust company deems advisable.