N.Y. Ins. Law § 4121

§ 4121. Security may be required from banking officers and employees.\n(a) The board of directors or trustees of each bank, trust company,\nsavings bank or savings and loan associations in this state, may require\nfrom each officer and employee thereof an individual fidelity bond in\nfavor of the institution in an amount and form approved by such board of\ndirectors or trustees.\n (b) Such bond shall be accepted only from a corporation authorized to\nissue fidelity bonds and doing business in this state under the\nauthority of the department.\n (c) The premium for such bond may be paid as a necessary expense of\nany such banking institution.\n