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Section 13-5-414 - Fidelity Bonds; Insurance.

WY Stat § 13-5-414 (2019) (N/A)
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13-5-414. Fidelity bonds; insurance.

(a) The directors or managers of a supervised trust company shall obtain fidelity bonds of not less than one million dollars ($1,000,000.00) providing coverage for any active officers, managers, members acting in a managerial capacity and employees, whether or not they receive a salary or other compensation from the supervised trust company, to indemnify the supervised trust company against loss because of any dishonest, fraudulent or criminal act or omission by any of the persons bonded, acting alone or in combination with any other person. The bonds may be in any form and may be paid for by the supervised trust company.

(b) A supervised trust company may also procure property and casualty insurance of a nature and with such coverage amounts as the supervised trust company deems advisable.

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