Section R20-4-401. Fidelity Bond Coverage

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A.      A credit union shall have a fidelity bond in the form and in the amount required to maintain federal insurance on its accounts.

B.       A fidelity bond purchased by a credit union to comply with this Section shall include faithful-performance-of-duty cover- age.

C.      A credit union shall purchase its fidelity bond from an insurer that holds a certificate of authority from the Arizona Director of Insurance to transact surety business in Arizona.

Historical Note

Former Rule 1. R20-4-401 recodified from R4-4-401 (Supp. 95-1). Amended effective April 21, 1995 (Supp.

95-2). Amended by final rulemaking at 7 A.A.R. 2229,

effective May 3, 2001 (Supp. 01-2).

                    
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