Effective March 28th, 2017, enhanced New York auto dealer surety bond requirements will take effect. The New York Vehicle and Traffic Law has been modified to increase the surety bond sales-to-bond thresholds. Retail or wholesale motor vehicle dealers that sold… Continue Reading →
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 →
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 →
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 →
On July 14th, 2016, the Bureau of Ocean Energy Management (BOEM) “notified companies holding oil and gas leases in federal waters that it is updating the surety bond and risk management requirements to ensure that U.S. taxpayers never have to pay… Continue Reading →
La “Ley 272” de Puerto Rico establece que los dueños de las propiedades de alojamiento uplementario a “corto Plazo” cobran un impuesto igual a un siete por ciento (7%) del costo de la habitación por concepto del “Impuesto sobre el Canon por Ocupación de Habitación”. El… Continue Reading →
After months of delay on the legislation, West Virginia has approved rules modifying the AST and Horizontal Well Acts. The bonding /financial assurance section has amended the requirements to focus on ensuring corrective actions in the even of an accidental… Continue Reading →
Under California Civil Code, contractors and design professionals have a right to file a lien against real property once work has begun on the project. There are notification requirements contemplated under the Code, so a property owner will likely receive… Continue Reading →
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