TITLE 33. INSURANCE AND INSURANCE COMPANIES

CHAPTER 4. FARM MUTUAL INSURERS

Part 3. Management

Bonding Of Officers, Managers, And Employees

33-4-311. Bonding of officers, managers, and employees. (1) When acting in a fiduciary capacity, officers, managers, and employees shall each give bonds to the insurer for the faithful performance of their duties. The bond must be issued by an authorized corporate surety.

(2) The commissioner may adopt rules to determine the amount of the bonds required under this section.

History: En. Sec. 497, Ch. 286, L. 1959; R.C.M. 1947, 40-4830; amd. Sec. 21, Ch. 472, L. 1999.