Section Ban 1104.08 - Prior Approval of Decrease in Coverage(a) Banks, nondepository trust companies and credit unions shall submit a written request for commissioner approval at least 30 days in advance of a proposal to reduce fidelity bond coverage by 25 percent or more of the total aggregate amount of the coverage.(b) The commissioner shall approve or deny the request within 30 days of receipt of the request.(c) The commissioner shall: (1) Approve a request for a reduction in fidelity bond coverage if such a reduction will not affect the safety and soundness of the institution; or(2) Deny such a request only if the reduction will affect the safety and soundness of the institution.N.H. Admin. Code § Ban 1104.08
#6536, eff 7-2-97, EXPIRED: 7-2-05
New. #9767, eff 8-21-10