17-5315. Indemnity bonds; required of directors, officers, employees, and agents. - Kansas Statutes

17-5315

Chapter 17.--CORPORATIONS Article 53.--SAVINGS AND LOAN CODE; MANAGEMENT

      17-5315.   Indemnity bonds; required of directors, officers, employees, and agents. All directors, officers and employees of an association having control of or access to moneys or securites of such association shall, before entering upon the performance of any of their duties, execute their individual or blanket bonds with adequate corporate surety authorized to do business in this state payable to the association as an indemnity for any pecuniary loss the association may sustain of money or other property by or through any fraud, dishonesty, forgery or alteration, larceny, theft, embezzlement, robbery, burglary, holdup, wrongful or unlawful abstraction, misapplication, misplacement, destruction or misappropriation, or any other dishonest or criminal act or omission, by any such director, officer, employee or agent.

      History:   L. 1943, ch. 133, § 44; July 1.