Section Ban 1104.04 - Bank and Nondepository Trust Company Requirements(a) The board of directors, managers or trustees of the bank or nondepository trust company shall determine the amount of fidelity bond coverage, premised upon consideration of relevant factors, including, but not limited to, the following: (1) Internal auditing safeguards employed;(3) Amount of deposit liabilities and assets under management and administration; and(4) Amount of cash and securities normally held by the bank or nondepository trust company.(b) Fidelity bonds shall cover each officer, employee and agent who:(1) H as control over or access to cash, securities, or other property of the institution; or(2) Is otherwise actively concerned in the administration of the bank or nondepository trust company.(c) Directors, managers and trustees of the bank or nondepository trust company shall not serve as sureties on the fidelity bonds.(d) The acceptable bond format for banks and nondepository trust companies shall, at a minimum: (1) For banks, meet the industry standard format, Financial Institution Bond Standard Form No. 24 dated 2004;(2) For nondepository trust companies, meet the industry standard format, Financial Institution Bond Standard Form No. 14 dated 1987; or(3) Contain insuring provisions equivalent to those found in the standard bond formats in (1) or (2) above, whichever is applicable.N.H. Admin. Code § Ban 1104.04
#4025, eff 3-26-86: rpld by #4101, eff 7-24-86
New. #6536, eff 7-2-97, EXPIRED: 7-2-05
New. #9767, eff 8-21-10