Bonds for officers and employees.
In accordance with the requirements of
section 1161.71 of the Revised Code,
each savings bank shall maintain as a minimum, the fidelity bond coverage shown
on the following schedule:
The bond coverage may provide for a deductible amount which otherwise would be
recoverable from the bonding company. A deductible amount may be applied
separately to one or more insuring agreements. No more than one deductible
amount shall be permitted from all losses caused by the same person or persons
acting in collusion or combination in cases in which such losses result from
dishonesty of employees (as defined in the bond). A deductible shall not exceed
two per cent of the savings bank's net worth.
Five Year Review (FYR) Dates:
Effective Dates: 11/17/1991,
Prior History: (R.C.
119.032 review dates:
Effective Dates: 11-17-91, 6-3-04 )