Every individual acting as officer or employee of an association, and handling funds or securities amounting to one thousand dollars ($1,000) or more in any one year, shall be covered by an adequate bond as determined by the board of directors, and at the expense of the association.
R.I. Gen. Laws § 7-8-29
Bonding of officers and employees
Known as the Consumer Cooperative Association Law
The act spans §§ 7–7 (35 sections).
P.L. 1947, ch. 1976, § 25; G.L. 1956, § 7-8-29.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.