Questionairefor VFW Accountable Officers Crime Coverage
One of the most important communications you will receive during the year concerns the bond of your Unit Quartermaster. Section 703 of our National ByLaws requires that each accountable officer shall be bonded with an Indemnity Company as surety and the ByLaws places the responsibility for adequate bonding upon the Commander of the post. In any business it is customary to bond any officer handling funds. THE BOOKS AND RECORDS OF THE ACCOUNTABLE OFFICERMUST BE AUDITED AT LEAST
QUARTERLY BY THE TRUSTEES. THIS IS TO COMPLY WITH SECTION218 OF THE NATIONAL MANUAL OF PROCEDURES.
The Department Headquarters carries a Crime Policyfor the bonding of Department and Post Accountable Officers. This Policyruns for a year from September 1 to August 31 premium payments are made on that basis. Coverage for all accountable officers expireon August 31 and premium for the New Yearis due on September 1.
Any unit may decide whether it prefers to take out a Policywith some other surety company or have its funds protected by the Department Headquarters Crime Policy. But the matter should be given prompt attention because if your Accountable Officer had previously been covered through the National Headquarters, a new premium payment is required bySeptember
and delinquent after this date.
IF THE POLICY IS NOT RENEWED, TERMINATED, OR CANCELLED AT EXPIRATION DATE OF 9-1-2022. THE POST HAS ONLY 90 DAYS TO SUBMIT A PROOF OF LOSS FOR PRIOR TERM. AFTER 90 DAYS PRIOR COVERAGE CEASES.