1. The superintendent shall acquire good and sufficient bond in a company authorized to do business in this state in order to ensure both of the following:
- a. The faithful performance of the deputy superintendent, assistants, examiners, and all other employees of the credit union division.
- b. Protection from any liability that may accrue in case of the loss of property of a state credit union, or of a member of a state credit union or of any other person, in the course of an examination, investigation, or other function required or allowed by the laws of this state.
- 2. The superintendent shall be bonded in accordance with chapter 64, provided that such bond shall be in the amount of one hundred thousand dollars.
2007 Acts, ch 174, §9