Indiana § 28-13-12-5 - Adequate fiduciary coverage required
Full text of Indiana Indiana Code § 28-13-12-5 — Adequate fiduciary coverage required, with citation guidance and answers to common questions.
§ 28-13-12-5. Adequate fiduciary coverage required
Sec. 5. (a) Every corporation shall make provision for adequate fidelity coverage for all officers and employees having access to money or bonds of the corporation. The amount and form of fidelity coverage must be approved annually by the board of directors of the corporation. Coverage may be provided:
(1) in the form of a blanket fidelity bond issued by a corporate surety authorized to transact business in Indiana; or
(2) through the establishment of a separate reserve fund within the corporation for that purpose.
(b) If the corporation is a corporate fiduciary (as defined in IC 28-1-1-3), the corporation shall make provision for adequate fiduciary errors and omissions insurance coverage.
As added by P.L.14-1992, SEC.163. Amended by P.L.262-1995, SEC.89.
IC 28-13-13Chapter 13. Indemnification of Directors
28-13-13-1"Corporation" defined 28-13-13-2"Director" defined; scope of term 28-13-13-3"Expenses" defined 28-13-13-4"Liability" defined 28-13-13-5"Official capacity" defined; scope of term 28-13-13-6"Party" defined 28-13-13-7"Proceeding" defined 28-13-13-8Conditional indemnification of director against liability 28-13-13-9Mandatory indemnification of director for expenses of successful defense of proceeding 28-13-13-10Advancement of expenses before final disposition of proceeding; conditions; procedure 28-13-13-11Court ordered indemnification; determination 28-13-13-12Standards for conditional determinations and authorizations; procedure 28-13-13-13Indemnification of corporate officers and employees other than directors 28-13-13-14Liability insurance purchased and maintained by corporation 28-13-13-15Limitation of remedies; effect of chapter
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-13-12-5
What does Indiana Code § 28-13-12-5 cover?
Section 28-13-12-5 ("Adequate fiduciary coverage required") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 28-13-12-5?
A common citation format is "Indiana Code § 28-13-12-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 28-13-12-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.