Chapter: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | Insurance and Liability
Article: 1 | 2 | 3 | 4 | no article name/number
Section: 5800 | 5805 | 5806 | 5810 |

Section 5806 - Fidelity Bond Requirement

Unless the governing documents require greater coverage amounts, the association shall maintain fidelity bond coverage for its directors, officers, and employees in an amount that is equal to or more than the combined amount of the reserves of the association and total assessments for three months. The association’s fidelity bond shall also include computer fraud and funds transfer fraud. If the association uses a managing agent or management company, the association’s fidelity bond coverage shall additionally include dishonest acts by that person or entity and its employees.

This section is referenced in Sections: None

Prior Law:  Old CID Section: None

First Enacted:  Statutes of 2018, Chapter 396

Similar to CI-CID: None