GA - GAC
Rules and Regulations of the State of Georgia
Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website

(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, O.C.G.A.§ 50-13-7(d) contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)

To access this website, you must agree to the following:

These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC.

You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website.

You agree that you will not sell or license anything that you download, print, or copy from this website.

THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." THE STATE OF GEORGIA AND LAWRITER EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT AND ARE NOT LIABLE TO ANY PERSON FOR ANY ERRORS IN INACCURACIES CONTAINED IN THIS WEBSITE.

By accessing and/or using this website, you agree to the terms and conditions above. If you do not agree to the terms and conditions above, you must cease accessing and/or using this website and destroy all material obtained from this website without your agreement.

If you accept these terms enter the information below and click “I AGREE”.

Subject 80-2-5 SURETY BOND COVERAGE

Rule 80-2-5-.01 Minimum Requirements for Fidelity Bond Coverage

(1) The Board of Directors of each credit union shall review the bond coverage annually in order to ascertain its adequacy in relation to the exposure and to any minimum requirements that may be fixed from time to time by the Commissioner.
(2) All fidelity bonds must provide for faithful-performance-of-duty coverage for any officer or employee while performing any of the duties of the treasurer as prescribed in the credit union's bylaws, applicable statutes, and rules and regulations of the Department.
(3) It shall be the duty of the Board of Directors of the credit union to provide adequate fidelity bond coverage.
(4) The Commissioner may require additional coverage for any credit union when, in his opinion, the fidelity bonds in force are insufficient to provide adequate fidelity coverage, and it shall be the duty of the Board of Directors of the credit union to obtain such additional coverage within thirty (30) days after the date of written notice from the Commissioner of the requirement to obtain such additional coverage.