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 →
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 →
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 →
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 →
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 →
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 →
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 →
Mixed martial arts and similar combative sports have now been legalized in New York. Pursuant to recently enacted Senate Bill 5949, a person applying for a license to conduct combative sports must provide a TWO combative sports surety bonds. The… Continue Reading →
The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 requires the IRS to establish a voluntary certification program for professional employer organizations (PEOs). The Federal Register has published final and temporary regulations relating to certified professional employer organizations… Continue Reading →
Effective March 22nd, 2016 an Idaho Appraisal Management Company surety bond is one of the statutory requirements for operating and AMC in the state. The state legislature’s purpose was to create an oversightsystem for appraisal managers. The house committee’s stated, “In most… Continue Reading →
Effective June 25th, 2015, a South Carolina Waste Tire Hauler Surety Bond is required in addition to other obligations for registration and permitting in the state. Pursuant to the statute, parties that carry more than fifteen tires per haul must… Continue Reading →
A collection agency is a third party agent of a creditor. Given the fiduciary and other legal duties placed on commercial debt collectors, most states now require agents to be licensed and to post a collection agency bond. This type… Continue Reading →
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