2011 Utah Code
Title 7 Financial Institutions Act
Chapter 7 Savings and Loan Associations Act
Section 14 Bonding of directors, officers, employees, and collection agents.

7-7-14. Bonding of directors, officers, employees, and collection agents.
Each director, officer, and employee of an association shall, before entering upon the performance of any duty, execute an individual bond with adequate corporate surety payable to the association as an indemnity for any loss the association may sustain of money or other property by or through any fraud, dishonesty, forgery or alteration, larceny, theft, embezzlement, robbery, burglary, hold-up, wrongful or unlawful abstraction, misapplication, misplacement, destruction or misappropriation, or any other dishonest or criminal act or omission by the director, officer, employee, or agent. An association which employs collection agents, who for any reason are not covered by a bond as hereinabove required, shall provide for the bonding of each such agent in an amount equal to at least twice the average monthly collection of the agent. No bond coverage will be required of any agent which is a financial institution insured by the Federal Deposit Insurance Corporation or other federal deposit insurance agency. In lieu of individual bonds, a blanket bond, protecting the association from loss through any such act or acts on the part of any such director, officer, or employee, may be obtained. A true copy of every such indemnity bond shall be on file at all times with the supervisor. Each bond shall provide that a cancellation of the bond either by the surety or by the insured does not become effective unless and until 10 days notice in writing first has been given to the supervisor, unless he has approved the cancellation earlier.