Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter VII - National Credit Union Administration |
SubChapter A - Regulations Affecting Credit Unions |
Part 713 - Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions |
§ 713.4 - What bond forms may a federally insured credit union use?
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§ 713.4 What bond forms may be used?
(a) A current listing of basic bond forms that may be used without prior NCUA Board approval is on NCUA's Web sitea federally insured credit union use?
(a) The NCUA Board must approve all bond forms before federally insured credit unions may use them.
get(b) Bond forms the NCUA Board has approved for use by federally insured credit union are listed on the NCUA's website, http://www.ncua.gov, and may be used by federally insured credit unions without further NCUA approval. If you are unable to access the NCUA's website, you can
NCUA's Public and Congressional Affairs Office,obtain a current listing of approved bond forms by contacting
the NCUA at (703) 518-6330.
b) To(
, you need prior writtenc) Federally insured credit unions may not use any of the following
other basicwithout first receiving approval from the NCUA Board:
(1) Any
; orbond form
or endorsementthat has been amended or changed since the time the NCUA Board approved the form; and
(2) Any rider
basic, endorsement, renewal, or other document that limits coverage of approved
[64 FR 28720, May 27, 1999, as amended at 70 FR 61716, Oct. 26, 2005; 73 FR 30478, May 28, 2008bond forms.
(d) Approval on all bond forms expires after a period of 10 years from the date the NCUA Board approved or reapproved use of the bond form unless otherwise determined by the NCUA Board. Provided, however, that:
(1) Any bond forms approved before 2019 will expire on January 1, 2029, unless otherwise determined by the NCUA Board; and
(2) The NCUA reserves the right to review a bond form at any point after its approval.
[84 FR 35524, July 24, 2019]