§ 1788.8 - Procedure for fidelity notices and claims.

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Upon discovery by the borrower or RUS of any fraudulent or dishonest act of any officer, employee, or collection agent, the borrower shall notify the bonding company of such discovery promptly in writing. Such notice, a copy of which shall be sent immediately to RUS and each supplemental lender, shall be given on behalf of both the borrower and RUS. If a proof of loss is filed, it shall also be filed on behalf of both the borrower and RUS. A copy of the proof of loss, if any, shall be sent immediately to RUS and each supplemental lender by the borrower.

                    
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