Section Ban 1104.03 - Fidelity Bond Requirements(a) Banks, credit unions and nondepository trust companies shall: (1) Obtain fidelity bond coverage at the time the institution is authorized by the commissioner to transact business; and(2) Maintain such coverage at all times while it remains in operation.(b) Fidelity bond coverage shall be purchased from an insurance company:(1) Rated "superior" or "excellent" by at least one nationally recognized statistical rating organization; and(2) Licensed or approved by the New Hampshire insurance department to transact business in New Hampshire.(c) Fidelity bonds at a minimum shall provide coverage for dishonest or fraudulent acts of all employees, including directors managers or trustees, when performing duties of an employee, all officers, and all agents of the institution, and acts such as robbery, burglary or forgery by persons not associated with the institution.N.H. Admin. Code § Ban 1104.03
#4025, eff 3-26-86, EXPIRED 3-26-92
New. #6536, eff 7-2-97, EXPIRED: 7-2-05
New. #9767, eff 8-21-10