Effective: January 1, 2018
Latest Legislation: House Bill 49 - 132nd General Assembly
Each officer and employee of a state 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.
Structure Ohio Revised Code
Title 11 | Banks-Savings and Loan Associations
Chapter 1105 | Banks - Board of Directors
Section 1105.01 | Authority, Number, Terms and Classes of Directors.
Section 1105.02 | Qualifications of Board Members.
Section 1105.03 | Director Oath.
Section 1105.04 | Individual, Schedule, or Blanket Fidelity Bonds.
Section 1105.08 | Board and Committee Meetings.