{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-713","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-713","heading":"Fidelity bonds and other insurance","body":"A. Directors must require fidelity bonds. The directors of a\n\nbank or trust company shall require good and sufficient fidelity\n\nbonds on all active officers and employees, whether or not they draw\n\nsalary or compensation, which bonds shall provide for indemnity to\n\nsuch bank or trust company on account of any losses sustained by it\n\nas the result of any dishonest, fraudulent or criminal conduct by\n\nthem acting independently or in collusion or combination with any\n\nperson or persons. Such bonds may be in individual, schedule or\n\nblanket form, and the premiums therefor shall be paid by the\n\ncorporation.\n\nB. Other insurance. The said directors shall also require\n\nsuitable insurance protection to the bank or trust company against\n\nburglary, robbery, theft and other insurable hazard to which the\n\nbank or trust company may be exposed in the operations of its\n\nbusiness on the premises or elsewhere.\n\nC. Annual review of bonds and insurance by board of directors -\n\nInsurance - Bonds and insurance subject to approval of Commissioner\n\nand to regulations of board. The directors of every bank and trust\n\ncompany shall be responsible for prescribing at least once in each\n\ncalendar year the amount or penal sum of the bonds and policies\n\nspecified in this section and the sureties or underwriters thereon,\n\nafter giving due and careful consideration to all known elements and\n\nfactors constituting such risk or hazard. Such action shall be\n\nrecorded in the minutes of the board of directors and thereafter be\n\nreported to the Commissioner and be subject to his approval.\n\nEvidence of any and all such bonds shall be filed with the\n\nCommissioner as soon as procured.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"042a02eb733c76ecd4d5d582cb9466fad3729007741044f294a4829cc3250886","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-712.1","next":"us-ok/okla.-stat.-tit.-6-6-714"},"notice":"GroundRules: Original legal text. Not legal advice."}