The credit union shall procure errors and omission insurance sufficient to mitigate the risks involved in fiduciary activities, but at no time shall errors and omissions insurance coverage be less than five hundred thousand dollars. A credit union shall conduct and document the annual analysis of the appropriateness of the current coverage.

Source Note: The provisions of this §91.6014 adopted to be effective August 10, 2003, 28 TexReg 6270; amended to be effective May 31, 2020, 45 TexReg 3438