The amount and form of fidelity coverage must be approved annually by the board of directors of the credit union. Coverage may be provided:(1) in the form of a blanket fidelity bond issued by a corporate surety authorized to transact business in Indiana; or(2) through the establishment of a separate reserve fund within the credit union for that purpose.Formerly: Acts 1961, c.182, s.31. As amended by P.L.276-1987, SEC.4; P.L.263-1995, SEC.27; P.L.35-2010, SEC.167; P.L.29-2022, SEC.10.
Indiana Legal Code