Every individual acting as officer or employee of an association and handling funds or securities amounting to $1,000 or more, in any one year, shall be covered by an adequate bond, as determined by the board of directors and at the expense of the association. The bylaws may also provide for the bonding of other employees or officers.

History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720

Prior Codifications

1973 Ed., § 29-832.

1981 Ed., § 29-1132.

2001 Ed., § 29-932.