31.12.365  <<  31.12.367 >>   31.12.372

RiskBond coverageNotice to directorTiming.

(1) Each credit union must be adequately insured against risk. In addition, each director, officer, committee member, and employee of a credit union must be adequately bonded.
(2) When a credit union receives notice that its fidelity bond coverage will be suspended or terminated, the credit union shall notify the director in writing not less than thirty-five days prior to the effective date of the suspension or termination.
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