California Financial Code

§ 6203

FIN § 6203Div. 2 · Ch. 3 · Art. 5

Statute text

(a)The amounts and form of indemnity bonds and sufficiency of the surety shall be approved by the board of directors and by the commissioner.

(b)In lieu of individual bonds, a blanket bond, protecting the association from loss through any act or acts of any director, officer, employee or agent, may be obtained.

(c)A true copy of every indemnity bond shall be on file at all times at the association’s home office.

Legislative history

Added by Stats. 1983, Ch. 1091, Sec. 2.