{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-301.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-301.6","heading":"Fidelity bonds","body":"A. Governing board must require fidelity bonds. The governing\n\nboard of a charitable organization serving as trustee of a\n\ncharitable trust shall require good and sufficient fidelity bonds on\n\nall officers and employees who are involved in the funding and\n\nadministration of a charitable trust, whether or not they are paid a\n\nsalary or other compensation. The fidelity bonds shall indemnify\n\nthe charitable trusts administered by a charitable organization for\n\nloss sustained to a charitable trust as the result of dishonest,\n\nfraudulent, or criminal conduct by the officers and employees of the\n\ncharitable organization, whether acting independently or in\n\ncollusion with any person or persons.\n\nB. Form and premiums of fidelity bonds. The governing board of\n\na charitable organization serving as trustee of a charitable trust\n\nshall determine the amount and form of its fidelity bonds. The\n\npremiums for its fidelity bonds shall be paid by the charitable\n\norganization and the cost of premiums may be included in the\n\nadministrative overhead of the charitable organization.\n\nC. Annual review of fidelity bonds. At least once each\n\ncalendar year the governing board of a charitable organization\n\nserving as trustee of a charitable trust shall evaluate all known\n\nelements and factors constituting its risk of loss due to dishonest,\n\nfraudulent, or criminal conduct by its officers and employees and\n\ndetermine if the amount and form of its fidelity bonds are\n\nsufficient. The governing board shall then require fidelity bonds\n\nin such amounts and form as are sufficient to protect its charitable\n\ntrusts from such risk or hazard. The action of the governing board\n\nin determining the amount and form of its fidelity bonds shall be\n\nrecorded in the minutes of the governing board.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"af3550878a498cb10f9f5aa8e8051cd663e6eed3ecaf147248f1ea86dce523ef","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-301.5","next":"us-ok/okla.-stat.-tit.-60-60-301.7"},"notice":"GroundRules: Original legal text. Not legal advice."}