Re: [AGA-sc] Bond

["S. Hieber" <shieber@yahoo.com>]

Correct. The thing I have is a bond, an instrument that provides some payment 
to the AGA in the event of AGA money losses due certain kinds of an empoyee's 
conduct. Basically, a promise to pay-you-the-money-he-stole-or-lost . Liability 
insurance to pay others for any harm to them or their property for which the 
AGA is legally responsible, is a whole diff ball game -- legally and 
financially.
 
sh
 


----- Original Message ----
From: Kathy Olson <kathy@thekrib.com>
To: Aquatic Gardeners Association Board <aga-sc@thekrib.com>
Sent: Wednesday, August 30, 2006 11:37:52 PM
Subject: Re: [AGA-sc] Bond


It was still high, like 1000 to cover for conventions and such when I 
checked, I think what scott is doing is not a liability policy....but what 
I was looking at was what the ACA had with Rusty...feel free to check it 
out though, it varies depended on state, etc

On Wed, 30 Aug 2006, Larry Lampert wrote:

> I agree, I also want to see what Mike comes up with
> from Rusty. I did not even know his insurance company
> wrote these Bonds but if they do he will certainly
> give us the best rate and terms he can.
>
>
> --- "S. Hieber" <shieber@yahoo.com> wrote:
>
>> I received a copy of the Bond for which about $500
>> is due. After giving it a quick scan of coverage,
>> definitions and terms and conditions, it appears
>> that it covers loss as the result of action of an
>> "Employee" of the AGA, which is defined, briefly, as
>> any compensated person transacting business of the
>> AGA and who *is not* a Director or Trustee. So the
>> Bond basically covers us for nothing since the
>> Treasurer is and has been a Director of the AGA.
>>
>> I recommend we pay what we have to thus far and
>> cancel the policy.
>>
>> Anyone see any reason to do otherwise?
>>
>> sh
>>
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