The board of directors shall require protection and indemnity for the bank against defalcation, forgery, theft and other similar insurable losses, with corporate insurance or surety companies authorized to do business in this state. Coverage against defalcation shall include all active officers and employees of the bank whether or not they draw salary or compensation.
A.R.S. § 6-188
Bonds and insurance; coverage
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.