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 →
A New Hampshire Credit Services Organization bond is required by law if you propose to offer credit repair services in the state. As per the Attorney General, in 1989, the New Hampshire Legislature enacted the Credit Service Organizations Act, RSA… Continue Reading →
Since we write a looooooooooooot of of ERISA fidelity bonds, we get this particular question very frequently. The best “legal” definition is contained within the U.S. Department of Labor’s circular FAB 2008-04. An ERISA section 412 bond must protect the… Continue Reading →
A Louisiana Tobacco Tax Surety Bond and registration as a “tobacco dealer” are required of any person or entity who manufacturers or imports cigars, cigarettes, smoking or smokeless tobacco for distribution, sale, use, or consumption in Louisiana. Every registered tobacco… Continue Reading →
Effective immediately a Minnesota Elevator Contractor Bond will be required from both full and limited licensees. According to the Minnesota Department of Labor’s open letter, “The changes became effective July 1, 2013. Elevator contractors and elevator constructors are currently licensed under… Continue Reading →
The General Assembly has passed a new statue requiring a Kansas Roofing Contractor Bond where previously such contractors were unregulated by the state. Many cities and counties have their own requirements, including ICC or other testing requirements. Most contractors are also… Continue Reading →
As a surety-specific agency with a national footprint we numerous requests for “bid bonds” each day. Contractors who have dealt with corporate sureties are aware of what these are however many new and smaller construction and commercial services contractors do… Continue Reading →
Unless give a “license fee and waiver” each dealer applicant must post a Virginia motor vehicle dealer bond with the Commonwealth before be issued a license to operate. The Code of Virginia §46.2-1500 defines a “dealer” as any person who: 1. For… Continue Reading →
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