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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1105.04 | Individual, schedule, or blanket fidelity bonds.

Ohio Revised Code
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Title 11 Banks-Savings and Loan Associations
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Chapter 1105 Banks - Board Of Directors
 
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Effective:
January 1, 1997
Legislation:
House Bill 538 - 121st General Assembly
PDF:
Download Authenticated PDF
 

Each officer and employee of a bank, prior to the discharge of the officer's or employee's duties, shall be covered by an individual, schedule, or blanket fidelity bond in favor of the bank, with terms and issuing insurer approved by the board of directors. The amount of the bond shall be set by the board of directors, and shall be reasonable given the size of the bank and nature of its business. The board of directors are not required to provide a bond covering their duties as directors.

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