“Legal guardianship” is a court granted authority in which a responsible person (a “fiduciary”) is appointed to manage the financial affairs and property interests of a third party (a “ward”). A guardianship bond is often required to protect the ward’s… Continue Reading →
Of all of the financial components that a contract surety bond underwriter considers when reviewing a performance bond request, working capital is the the first. Healthy working capital is indicative of a contractor’s ability to service his or her short… Continue Reading →
Property improvements and construction works are two of the permit activities that require a New York City street obstruction surety bond. In addition to a multi-step application process, an application for a permit must provide this surety obligation based on… Continue Reading →
If you wish to conduct a game of chance or charitable sweepstakes program the New York Department of State requires the filing of financial security in an amount no less than the total value of the prizes offered. A Games… Continue Reading →
On July 29th, 2015, Public Act 99–0178 became law, allowing use of an Illinois Mechanics Lien Release bond to remove encumberances arising from improvement work on real property or for monies due to a general contractor. The Illinois Mechanic’s Lien… Continue Reading →
Effective November 1st, 2015 the Commission of Insurance will require an enhanced Oklahoma Public Adjuster surety bond in the amount of twenty five thousand dollars. The new bond penalty has been increased from ten thousand dollars. The law requires that… Continue Reading →
Effective August 1st, 2015 the bond penalty of the North Dakota Water Well Contractor surety bond has been increased from two thousand dollars to fifteen thousand dollars. The original surety bond threshold for a monitoring well, pump and pitless unit,… Continue Reading →
Effective August 15th, 2015, the Missouri Pesticide Applicator surety bond threshold has been raised from $25,000 to $50,000. The “financial responsibility” requirement was increased by Senate Bill 12. Among other changes the new statute also eliminates the provision of the… Continue Reading →
By June 1st, 2015, all P.I.s that wish to be licensed or renew a current license will have to provide the mandatory Colorado private investigator bond. The State of Colorado overhauled the licensing statute in 2014 to come in to… Continue Reading →
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