SECTION 785:50-11-10. Insurance requirements for loan recipients

Latest version.

A financial assistance loan recipient shall at all times carry or cause to be carried liability, workers compensation, fire, casualty and extended coverage, and other insurance covering the recipient's system as shall be required by and acceptable to the Board Staff. Furthermore, the recipient shall at all times for each of its officers, employees, agents, or other representatives who handle funds of the recipient be covered by a fidelity bond or position coverage in a form and amount as shall be required by and acceptable to the Board Staff, and shall furnish to the Board appropriate proof of such fidelity bond or position coverage.

[Source: Added at 18 Ok Reg 2247, eff 7-1-01; Amended at 35 Ok Reg 2243, eff 9-14-18]

                    
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