A trust company that is the victim of a robbery, has a shortage of corporate or fiduciary funds in excess of five thousand dollars ($5,000), or is the victim of an apparent or suspected misapplication of its corporate or fiduciary funds or property in any amount by a director, officer, or employee shall report the robbery, shortages or apparent or suspected misapplication to the Bank Commissioner within forty-eight (48) hours after the time it is discovered. The initial report may be oral if the report is promptly confirmed in writing. The trust company or a director, officer, employee, or agent is not subject to liability for defamation or another charge resulting from information supplied in the report.
Section: Previous 23-51-142 23-51-143 23-51-144 23-51-145 23-51-146 23-51-147 23-51-148 23-51-149 23-51-150 23-51-151 23-51-152 23-51-153 23-51-154 23-51-155 23-51-156 NextLast modified: November 15, 2016