An individual or company that wishes to provide debt management or counseling services in the State of Texas must register with the Office of the Consumer Credit Commissioner and provide a debt management service bond. Defined by statute, a “debt management… Continue Reading →
The Department of Labor can easily monitor whether the ERISA fidelity bond requirements have been met. Plan administrators are obligated to file a federal Form 5500 schedule H annually, which asks specifically if the plan is bonded and the plan’s… Continue Reading →
Plans containing non-qualifying assets must be covered by an ERISA fidelity bond that meets the requirements of section 412 of ERISA however there is a difference in the bond amount required under the Federal Code. Instead of the ten percent… Continue Reading →
In Arkansas to act as an appraisal management company a licensee must provide an Arkansas appraisal management company bond to the Appraiser Licensing Board in the amount of $20,000. Pursuant to A.C.A. §17-14-101, Act 628 titled The Appraisal Management Company… Continue Reading →
The Texas Secretary of State requires any person or business who operates as a collection agency must provide third party debt collector bond to the Secretary of State. The debt collector bond requirement is $10,000. Careful! Collection activity can also fall under debt management. A debt… Continue Reading →
Pursuant to Alaska statute AS 08.18.011 constructions contractors must provide either a $10,000 Alaska general contractor bond, a $5,000 specialty contractor bond, or a $5,000 mechanical contractor bond to the Alaska Department of Commerce. The contractors obligation is to pay all taxes… Continue Reading →
HVAC specialty contractors in Idaho must provide the Division of Building Safety a $2,000 an HVAC compliance bond, also known as an HVAC contractors certification bond. The obligation ensures that the contractor will perform all HVAC work, whether personally or… Continue Reading →
A Kansas home inspector must provide the Home Inspector Registration Board a Kansas home inspector bond in an amount not less than $10,000 each year. The surety bond shall be issued by a corporate surety authorized to do business in Kansas… Continue Reading →
Mortgage brokers in the State of Missouri must be licensed and provide a Missouri residential mortgage loan broker bond. The Missouri Division of Finance requires a surety bond in the amount of $50,000 initially, to be increased pursuant to the mortgage… Continue Reading →
In Louisiana manufacturer or wholesale dealer of beverages of a high alcoholic content must have provide an alcoholic beverage tax surety bond pursuant to Title 26 of the Louisiana Revised Statutes of 1950. The surety bond guarantees payment of all taxes, penalties,… Continue Reading →
The Pennsylvania Department of Insurance issues the license to act as a public adjuster in the state. The licensee application must include a Pennsylvania public adjuster bond. The state defines a “public adjuster” as an individual who is hired (for a fee)… Continue Reading →
Attaching a private driveway or entrance way to a state road in Tennessee requires a permit and an entrance permit bond. The surety bond must run to the Tennessee Department of Transportation and guarantees the principal’s (permit applicant’s) improvements on… Continue Reading →
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