43-33-705 - Fiduciary bond; premiums.
§ 43-33-705. Fiduciary bond; premiums.
All directors, officers, employees or agents exercising any voting power or discretionary authority shall be required prior to the issuance of any bonds by the corporation to have issued by a surety company licensed to do business in the State of Mississippi a fiduciary bond in the amount of Fifty Thousand Dollars ($50,000.00) for the faithful performance of their duties. The corporation shall pay the premiums on such bonds.
Sources: Laws, 1989, ch. 525, § 4, eff from and after July 1, 1989.