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Code · Arizona · Title 6 — Banks and Financial Institutions

6-188. Bonds and insurance; coverage

55 words·~1 min read·/az/title-6/6-188

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The board of directors shall require protection and indemnity for the bank against defalcation, forgery, theft and other similar insurable losses, with corporate insurance or surety companies authorized to do business in this state. Coverage against defalcation shall include all active officers and employees of the bank whether or not they draw salary or compensation.
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