AB 2227 - FDIC & Fidelity Bond Coverage

Bill Author: 
Irwin
Subject: 
FDIC & Fidelity Bond Coverage
Status: 
Introduced

Would require that association funds transfers greater than $10,000 receive prior written approval from the board of directors, that association funds shall be deposited in an institution insured by the FDIC, and that the association maintains certain types and levels of coverage for its directors, officers, and employees.

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