1. Every savings bank shall maintain bond coverage in such amounts and form which is acceptable to the Commissioner and the Federal Deposit Insurance Corporation. The bond coverage may allow for a deductible amount or provision adopted under federal regulations applicable to federal savings banks.
2. When requested by the Commissioner, the savings bank shall provide a duplicate copy of the invoice showing that the bond premium has been paid or satisfied.
3. The face amount of the surety bond must comply with the requirements of the Federal Deposit Insurance Corporation.