- (a) The board of directors, managers or trustees of a bank, nondepository trust company or credit union, shall, at least annually, review in detail the fidelity bond coverage in force in order to ensure such coverage meets the requirements of Ban 1104.04(a).
- (b) Documentation of the board of directors' or trustees' periodic review and approval of fidelity bond coverage shall be included as part of the minutes of the meeting at which the board approves coverage and reviews coverage.
Source. #6536, eff 7-2-97, EXPIRED: 7-2-05 New. #9767, eff 8-21-10 (from Ban 1104.08), EXPIRED: 8-21-18