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ACM Completes Fidelity Bond Review for All Communities

  ACM Completes Fidelity Bond Review  for All Communities ​Protecting your property against possible fraudulent acts by staff, board members or others might not be the most pleasant task, but it could save you hundreds if not thousands of dollars if the unthinkable happens.  ​ That’s why ACM took the proactive step to conduct a review of its communities to ensure they each had adequate protection in the form of a fidelity bond. Fidelity bond coverage is a form of insurance protection that covers losses that an association could incur from dishonest or fraudulent acts carried out by a board member or an employee. Having adequate fidelity insurance in place: Protects the association’s bank accounts and other assets Is mandatory in the State of Maryland for FHA approval Enhances resale potentia l Charlene Pindell, vice president of community operations for ACM’s greater Baltimore division, says fidelity coverage should cover an association’s assets, its employees, and its managing agent.

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