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License Bonds

New Jersey Appraisal Management Company Bond

By November, 2017 all AMCs must post a New Jersey appraisal management company bond in order to conduct operations within the state. Assembly Bill 1756, originally introduced in 2013 will be implemented by the State Real Estate Appraiser’s Board and new… Continue Reading →

Florida Citrus Fruit Dealer Bond

A Florida citrus fruit dealer bond is required under state statute or brokers and dealers of all citrus products. As per F.S.S. 601.03, “Citrus fruit dealer” means any consignor, commission merchant, consignment shipper, cash buyer, broker, association, cooperative association, express… Continue Reading →

STAMP Bond ~ Medallion Signature Guarantee Program Surety Bond

Current code obligates a transfer agent to accept responsibility for irregular or improper securities registrations. When a particular security is transferred a transfer agent relies on the representations of a Medallion Guarantor. A stamp issued by a Medallion Guarantor is… Continue Reading →

Bankruptcy Auctioneer Bond

Before a bankruptcy auctioneer can be retained by a trustee he or she must file a bankruptcy auctioneer bond. A bankruptcy auctioneer is considered an “agent of the court” and is therefore regulated by specific laws to which the auctioneer… Continue Reading →

Iowa Appraisal Management Company Surety Bond

Effective January 1st, 2017 the State of Iowa has begun the regulation of appraisal management companies. Among other licensing qualifications and requirements, an AMC must also post an Iowa appraisal management company surety bond. The Iowa Division of Banking is… Continue Reading →

Minnesota Investment Adviser Surety Bond

Minnesota statute (80A.41 Section 102) defines an “Investment adviser” as a “person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing,… Continue Reading →

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 →

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 →

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 money transmitter surety bond will now be required from cryptocurrency exchanges. Chapter 399 of New Hampshire Title XXXVI now defines, “Convertible virtual currency” as a… Continue Reading →

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