Okla. Stat. tit. 18, § 18-381.34
This is the official text of Okla. Stat. tit. 18, § 18-381.34, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Fidelity bonds - Waiver
Official statutory text
Every association must protect itself against loss of money or
property by or through any fraud, dishonesty, forgery or alteration,
larceny, theft, embezzlement, or other criminal act of any director,
officer, employee or agent, by a blanket bond covering all personnel
and agents or by individual fidelity bonds, issued by a corporate
surety. The amount and form of each such bond and sufficiency of
the surety thereon shall be subject to review and disapproval by the
State Banking Commissioner. The Commissioner may waive the bond
requirement, in whole or in part, upon a showing by the association
that such bonding is either unavailable, economically infeasible, or
an imprudent business decision. Such waiver shall be for a period
of time, to be stated in the Commissioner's order, not exceeding one
(1) year, subject to extension upon further application. The order
of the Commissioner waiving the bond requirement shall be
conditioned on the association continuing to seek an available,
economically feasible bond.
Oklahoma Statutes - Title 18. Corporations Page 43
property by or through any fraud, dishonesty, forgery or alteration,
larceny, theft, embezzlement, or other criminal act of any director,
officer, employee or agent, by a blanket bond covering all personnel
and agents or by individual fidelity bonds, issued by a corporate
surety. The amount and form of each such bond and sufficiency of
the surety thereon shall be subject to review and disapproval by the
State Banking Commissioner. The Commissioner may waive the bond
requirement, in whole or in part, upon a showing by the association
that such bonding is either unavailable, economically infeasible, or
an imprudent business decision. Such waiver shall be for a period
of time, to be stated in the Commissioner's order, not exceeding one
(1) year, subject to extension upon further application. The order
of the Commissioner waiving the bond requirement shall be
conditioned on the association continuing to seek an available,
economically feasible bond.
Oklahoma Statutes - Title 18. Corporations Page 43
Status: in_force · Read it on the official government site
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