(a) The amounts and form of indemnity bonds and sufficiency of the surety shall be approved by the board of directors and by the commissioner.
(b) In lieu of individual bonds, a blanket bond, protecting the association from loss through any act or acts of any director, officer, employee or agent, may be obtained.
(c) A true copy of every indemnity bond shall be on file at all times at the association’s home office.
(Added by Stats. 1983, Ch. 1091, Sec. 2.)