§ 6200 Director And Officer Bonds

• •People who work for certain groups (like directors, officers, or employees) must get a special kind of insurance called a 'bond' before they start working.
• •This bond is like a promise that if the person steals money, lies, or does something dishonest that hurts the group, the insurance will help pay back what was lost.
• •The bond must cover things like stealing, lying, fake signatures, or any other sneaky or bad actions that could hurt the group’s money or stuff.

If someone who works at a bank takes money from the bank without permission, the bank can use the bond to get that money back.

The bond acts like a safety net. If the worker does something bad like stealing, the bond helps the bank get its money back so it doesn’t lose everything.