53C-4-8. Officers and employees shall give bond.
(a) A bank shall require security in the form of a bond for the fidelity and faithful performance of duties by its officers and employees. The bond shall be issued by a bonding company authorized to do business in this State and upon such form as may be approved by the Commissioner. Otherwise, the amount, form, and terms of the bond shall be such as the board of directors may require. The premium for the bond is to be paid by the bank.
(b) To provide for the safety and soundness of a bank, the Commissioner may require an increase in the amount of the bond or additional or different security. (2012-56, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53C - Regulation of Banks
Article 4 - Governance of Banks.
§ 53C-4-1 - Banks - Form of organization.
§ 53C-4-2 - Banks controlled by boards of directors.
§ 53C-4-3 - Committees of boards of directors.
§ 53C-4-4 - Minutes of meetings of directors and committees.
§ 53C-4-5 - Qualifications of bank directors.
§ 53C-4-6 - Liability of directors.
§ 53C-4-7 - Directors may declare distributions.
§ 53C-4-8 - Officers and employees shall give bond.
§ 53C-4-9 - Affiliate transactions.
§ 53C-4-10 - Examination of board composition, structure, and conduct.
§ 53C-4-12 - Compliance review committee.
§ 53C-4-13 - Immediate report of changes in directors and certain officers.