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  <FDSYS>
    <CFRTITLE>12</CFRTITLE>
    <CFRTITLETEXT>Banks and Banking</CFRTITLETEXT>
    <VOL>6</VOL>
    <DATE>2007-01-01</DATE>
    <ORIGINALDATE>2007-01-01</ORIGINALDATE>
    <COVERONLY>false</COVERONLY>
    <TITLE>What bond coverage must a credit union have?</TITLE>
    <GRANULENUM>713.3</GRANULENUM>
    <HEADING>Section 713.3</HEADING>
    <ANCESTORS>
      <PARENT HEADING="Title 12" SEQ="3">Banks and Banking</PARENT>
      <PARENT HEADING="CHAPTER VII" SEQ="2">NATIONAL CREDIT UNION ADMINISTRATION</PARENT>
      <PARENT HEADING="SUBCHAPTER A" SEQ="1">REGULATIONS AFFECTING CREDIT UNIONS</PARENT>
      <PARENT HEADING="PART 713" SEQ="0">FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERAL CREDIT UNIONS</PARENT>
    </ANCESTORS>
  </FDSYS>
  <SECTION>
    <SECTNO>§ 713.3</SECTNO>
    <SUBJECT>What bond coverage must a credit union have?</SUBJECT>
    <P>At a minimum, your bond coverage must:</P>
    <P>(a) Be purchased in an individual policy from a company holding a certificate of authority from the Secretary of the Treasury; and</P>

    <P>(b) Include fidelity bonds that cover fraud and dishonesty by all employees, <PRTPAGE P="573"/>directors, officers, supervisory committee members, and credit committee members.</P>
  </SECTION>
</CFRGRANULE>
