South Carolina Pawnbroker Bond Requirement is Now $15,000. ~ Surety One, Inc. Surety Bond MGA

For many years the state Pawnbroker Act has required a South Carolina pawnbroker bond, one of several requirements for licensing a pawn shop. Recent legislation has continued the suretyship requirement and increased the amount of bond. The state statute defines a… Continue Reading →

North Dakota Mechanic’s Lien Release Bond

A North Dakota mechanic’s lien release bond is a valuable tool for property owners that find themselves impeded by a mechanic’s lien. Also known as a construction lien bond, this remedy is available to a property owner or any party with… Continue Reading →

California Student Loan Servicer Surety Bond

On July 1st, 2018, the California Student Loan Servicing Act comes in to effect licensing financial professionals that service student loans. Per the statute the Act will “prohibit a person from engaging in the business of servicing a student loan in this state,… Continue Reading →

New York Mechanic’s Lien Release Bond

A New York mechanic’s lien release bond is a mechanism for removing a mechanic’s lien from a parcel of real property. Contemplated under New York’s Lien Law Section 19(4), a “discharge bond” properly executed and filed with the county clerk… Continue Reading →

Pharmaceutical Drug Facility Surety Bond

Every business that engages in the wholesale distribution of prescription drugs including but not limited to manufacturing in the State of Mississippi or that sells or offers to sell drugs must register annually with the Mississippi Board of Pharmacy and provide the appropriate pharmaceutical drug… Continue Reading →

Kentucky Advance Deposit Wagering Provider Surety Bond

During a special meeting the Kentucky Horse Racing Commission promulgated new rules for 2017 licenses which include the additional requirement of a Kentucky Advance Deposit Wagering Provider Surety Bond. “Advance deposit account wagering” means a form of pari-mutuel betting in which… Continue Reading →

Vermont Consumer Litigation Funding Company Surety Bond

Effective May 24th, 2016, a license and a Vermont consumer litigation funding company surety bond are required of all prejudment purchasers of potential lawsuit awards. The statute defines litigation funding as, “a nonrecourse transaction in which a person provides personal expense funds… Continue Reading →

Surety Bond Required from Cryptocurrency Exchanges in New Hampshire

The State of New Hampshire has amended its laws regulating money transmitters to include virtual currencies. A surety bond will now be required from cryptocurrency exchanges. Chapter 399 of New Hampshire Title XXXVI now defines, “Convertible virtual currency” as a digital representation… Continue Reading →

California Credit Services Organization Bond

In California, a credit repair specialist must follow mandatory registration protocols and file a California credit services organization bond in order to offer his or her services with the state. A “certificate of registration” is required of all market participants…. Continue Reading →

DMEPOS Surety Bond Requirements

Effective May 4th, 2009, the U.S. Department of Health and Human Services (DHHS), Medicaid and Medicare Services instituted new protocols for obtaining billing privileges which included a DMEPOS surety bond. Pursuant to federal code §424.58, a DMEPOS supplier means a supplier of… Continue Reading →

What Is a Financial Institution Bond

“Formerly known as a bankers blanket bond, and sometimes referred to as a fidelity bond, the financial institution bond as it is commonly known, is simply an insurance policy.  Though the term “insurance policy” does not typically appear in its… Continue Reading →

Bureau of Ocean Energy Management Announces New Surety Bond Requirements

On July 14th, 2016, the Bureau of Ocean Energy Management (BOEM) “notified companies holding oil and gas leases in federal waters that it is updating the surety bond and risk management requirements to ensure that U.S. taxpayers never have to pay… Continue Reading →

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