Effective January 1, 2014, SB 662 has amended the Business and Professions Code by increasing the minimum amount of insurance and the California Pest Control Surety Bond coverage required to be maintained by a registered company. The new minimums for registered… Continue Reading →
Bottom line, tax returns are NEVER acceptable financial reports when applying for contract surety bonding. Except for very small bond requests a contract surety underwriter will require one more years of proper financial statements prepared by a certified public accountant… Continue Reading →
As of December 26th, 2013 the State of Michigan’s landfill surety bond requirements have been modified. The section of the Natural Resources and Environmental Protection Act pertinent to the bonding requirement for the various types of landfill is as follows: Sec. 11523…. Continue Reading →
As of January 1st, 2014 a car wash and polishing business must post a California car wash surety bond with the only exception being for those car wash and polishing businesses that are participants in certain, specific collective bargaining agreements. Section… Continue Reading →
In order to provide professional job placement services in Indiana an applicant must register with the Commissioner of Insurance and provide an Indiana Professional Employer Organization surety bond or attest to the satisfaction of the Commissioner that the registrant possess appropriate… Continue Reading →
A newly enacted Indiana statute requires all credit services organizations, including foreclosure consultants, to file an Indiana credit services organization surety bond with the Office of the Indiana Attorney General before doing business in the state. The purpose of the… Continue Reading →
On July 12, 2013, Missouri enacted senate bill 262 requiring the licensing of health care navigators. While there is currently no #suretybond requirement, a companion bill has been introduced to require a health care navigator surety bond. This new law… Continue Reading →
Do you have the statutorily required ERISA fidelity bond in place? The first of the year is a good moment to review your compliance checklist! Federal ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1 and 29 C.F.R. Part… Continue Reading →
Residential mortgage loan professionals must post a Oklahoma mortgage broker bond with the Oklahoma Department of Consumer Credit in order to complete the approval and licensing process. The mortgage broker surety bond is now required pursuant to the Oklahoma SAFE Act. Each… Continue Reading →
The FMCSA has just today released the formal guidance for those property brokers (ICC), a/k/s freight brokers for coming in to registration and BMC-84 freight broker bond compliance with “MAP-21”. The following was released by Anne Ferro, FMCSA Administrator. Companies… Continue Reading →
If you are having any difficulty understanding the requirement(s) for an ERISA fidelity bond, the following is directly from and authored by the “Authority”, the U.S. Department of Labor. ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1 and… Continue Reading →
The Federal Register has issued a proposed rule to conform the regulations governing the Surety Bond Program to certain provisions of the 2013 National Defense Authorization Act (“NDAA”). Specific changes proposed are: Increasing the contract amount which the Small Business… Continue Reading →
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