12 CFR 713.3 - What bond coverage must a credit union have?

Text

---

Title 12: Banks and Banking

CHAPTER VII: NATIONAL CREDIT UNION ADMINISTRATION

SUBCHAPTER A: REGULATIONS AFFECTING CREDIT UNIONS

PART 713: FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERAL CREDIT UNIONS

713.3 - What bond coverage must a credit union have

At a minimum, your bond coverage must:

(a) Be purchased in an individual policy from a company holding a certificate of authority from the Secretary of the Treasury; and

(b) Include fidelity bonds that cover fraud and dishonesty by all employees, directors, officers, supervisory committee members, and credit committee members.

---