The credit union shall maintain officer and director liability insurance and blanket bond insurance in such amounts and terms as required to maintain insurance of accounts by the National Credit Union Share Insurance Fund, as provided in 12 C.F.R. §§741.3(d) and 741.201(a) (1-1-2020 Edition), which are hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13203 and the OFR’s website, www.flofr.gov. The liability and bond insurance shall provide, at a minimum, coverage for errors, omissions, negligence, fraud, and dishonesty by all employees, directors, officers, supervisory or audit committee members, and credit committee members. The credit union shall also maintain applicable insurance coverage with respect to all operations and activities.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented Florida Statutes § 657.021. History-New 10-13-81, Formerly 3C-30.33, 3C-30.033, Amended 10-8-95, Formerly 3C-110.0211, Amended 3-6-07, 9-11-18, 6-28-21.