- (a) Associations with money on hand will be required to have a bond with an approved corporate surety on the secretary/treasurer and any other person or persons whose authorized signature is on the association’s accounts.
- (b) Bonds must be made in favor of the association, in the amount of the surplus of the association, less the moneys invested, as authorized by Arkansas Code § 23-78-101 et seq.
- (c) However, the bond shall not be less than two thousand five hundred dollars ($2,500).