Bonding our treasurer
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Bonding our treasurer How do we go about bonding our treasurer? Lots of information online: Short answer: contact an insurance organization that offers surety bonds. However, I would say if you feel the need to have a surety bond for your acting treasurer then perhaps the person is not suited for the role. On Sat, Sep 6, 2014 at 8:06 AM, Jeanne Tieken <jeannetieken@gmail.com> wrote:
If your club is a BetterInvesting club you can purchase Fidelity Bond insurance through BetterInvesting. As I recall, the notices offering the insurance go out in September or October each year. Insurance through BetterInvesting is less expensive than insurance through other sources. It is one of the benefits of being a BetterInvesting club. Don't forget that Fidelity Bond insurance is valid only if the club's books have been audited since the end of the last fiscal year. No matter how well you might think you know someone, they can surprise you, and investment club members often don't know each other well, at least at first. Fidelity Bond insurance provides peace of mind for every member of the club, especially the Treasurer. After all, if the Treasurer makes a mistake, who is to say it wasn't deliberate? Treasurers take on a big responsibility when they become Treasurer. Why add the potential for litigation on top of that? It doesn't matter how honest your Treasurer may be. What matters is the protection that Fidelity Bond insurance provides to every member of your club. |
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