{"id":1290,"date":"2013-06-28T23:11:20","date_gmt":"2013-06-28T23:11:20","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1290"},"modified":"2017-01-03T16:20:32","modified_gmt":"2017-01-03T16:20:32","slug":"connecticut-exchange-facilitator-fidelity-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/","title":{"rendered":"Connecticut Exchange Facilitator Fidelity Bond"},"content":{"rendered":"<p>Connecticut HB 6339 has been signed into law. \u00a0The statute requires an exchange facilitator to post a <strong><a title=\"Surety One\" href=\"https:\/\/suretyone.com\" target=\"_blank\">Connecticut exchange facilitator fidelity bond<\/a>\u00a0<\/strong>in an amount not less than one million dollars ($1m).\u00a0 An errors\/omissions policy, a deposit of cash or securities or an irrevocable letters of credit in the amount of $250,000 is also part of the new statutory requirements.\u00a0 Exchange facilitators are persons or entities that perform like-kind exchanges of property under the federal tax law (<a title=\"IRS Law on like-kind exchanges\" href=\"http:\/\/www.irs.gov\/uac\/Like-Kind-Exchanges-Under-IRC-Code-Section-1031\" target=\"_blank\">IRC Code Section 1031<\/a>). \u00a0the <strong>exchange facilitator fidelity bond<\/strong> and insurance serve to mitigate dishonesty perils because a facilitator obtains contractual rights to sell their represented&#8217;s property.<\/p>\n<p>Legislation to regulate exchange facilitators originally was introduced as HB 5392.\u00a0 That bill would have permitted any consumer injured from an exchange facilitator violation of the requirements of the law to bring suit to recover on the <strong><a title=\"Surety One fidelity page\" href=\"https:\/\/suretyone.com\/fidelity-bonds\" target=\"_blank\">exchange facilitator fidelity bond<\/a><\/strong>. \u00a0The Surety &amp; Fidelity Association of America (<a title=\"SFAA site\" href=\"http:\/\/www.surety.org\/\" target=\"_blank\">SFAA<\/a>)explained to the bill sponsor the differences between surety and fidelity bond coverage, more specifically the provision third party claims on a fidelity bond.\u00a0 The provisions in HB 5392 were included in HB 6339, which the Governor has signed into law.\u00a0 While the bill sponsor seemed to understand our concerns, as enacted the law requires complainants to file a claim with the <a title=\"CT Banking Comm\" href=\"http:\/\/www.ct.gov\/dob\/site\/default.asp\" target=\"_blank\">Banking Commissioner<\/a> to recover from the <strong>Connecticut exchange facilitator fidelity bond<\/strong>\u00a0or errors and omissions insurance policy.\u00a0 The new law also allows aggrieved parties to bring civil suits against the facilitator.<\/p>\n<p><strong>Connecticut surety leader<\/strong>, <a title=\"Surety One\" href=\"https:\/\/suretyone.com\" target=\"_blank\">Surety One, Inc.<\/a> specializes in underwriting fidelity risks for ALL business classes. \u00a0Fidelity bonds for TPAs, MGAs, title agencies, labor unions and other hazardous classes are all welcomed. \u00a0For more information visit us at SuretyOne.com, call <span style=\"color: #ff0000;\">(787) 333-0222<\/span> or <span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email us at <span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for a <strong><a title=\"Surety One commercial surety page\" href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">Connecticut exchange facilitator fidelity bond<\/a><\/strong> application or further information about our commercial crime policy programs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Connecticut HB 6339 has been signed into law. \u00a0The statute requires an exchange facilitator to post a Connecticut exchange facilitator fidelity bond\u00a0in an amount not less than one million dollars ($1m).\u00a0 An errors\/omissions policy, a deposit of cash or securities&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[101],"tags":[1569,1570,1571,1572],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"Connecticut HB 6339 has been signed into law. \u00a0The statute requires an exchange facilitator to post a Connecticut exchange facilitator fidelity bond\u00a0in an amount not less than one million dollars ($1m).\u00a0 An errors\/omissions policy, a deposit of cash or securities... Continue Reading &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-28T23:11:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-03T16:20:32+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. Poindexter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/suretyone.com\/blog\/#website\",\"url\":\"https:\/\/suretyone.com\/blog\/\",\"name\":\"Surety One, Inc.\",\"description\":\"Our Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/suretyone.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#webpage\",\"url\":\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/\",\"name\":\"Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.\",\"isPartOf\":{\"@id\":\"https:\/\/suretyone.com\/blog\/#website\"},\"datePublished\":\"2013-06-28T23:11:20+00:00\",\"dateModified\":\"2017-01-03T16:20:32+00:00\",\"author\":{\"@id\":\"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605\"},\"breadcrumb\":{\"@id\":\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/suretyone.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Connecticut Exchange Facilitator Fidelity Bond\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605\",\"name\":\"C. Poindexter\",\"sameAs\":[\"https:\/\/www.SuretyOne.com\",\"https:\/\/www.facebook.com\/Surety1\",\"https:\/\/twitter.com\/SuretyOne\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/","og_locale":"en_US","og_type":"article","og_title":"Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.","og_description":"Connecticut HB 6339 has been signed into law. \u00a0The statute requires an exchange facilitator to post a Connecticut exchange facilitator fidelity bond\u00a0in an amount not less than one million dollars ($1m).\u00a0 An errors\/omissions policy, a deposit of cash or securities... Continue Reading &rarr;","og_url":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/","og_site_name":"Surety One, Inc.","article_publisher":"https:\/\/www.facebook.com\/Surety1\/","article_author":"https:\/\/www.facebook.com\/Surety1","article_published_time":"2013-06-28T23:11:20+00:00","article_modified_time":"2017-01-03T16:20:32+00:00","twitter_card":"summary","twitter_creator":"@SuretyOne","twitter_site":"@SuretyOne","twitter_misc":{"Written by":"C. Poindexter","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/suretyone.com\/blog\/#website","url":"https:\/\/suretyone.com\/blog\/","name":"Surety One, Inc.","description":"Our Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/suretyone.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#webpage","url":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/","name":"Connecticut Exchange Facilitator Fidelity Bond &bull; Surety One, Inc.","isPartOf":{"@id":"https:\/\/suretyone.com\/blog\/#website"},"datePublished":"2013-06-28T23:11:20+00:00","dateModified":"2017-01-03T16:20:32+00:00","author":{"@id":"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605"},"breadcrumb":{"@id":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/suretyone.com\/blog\/connecticut-exchange-facilitator-fidelity-bond\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/suretyone.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Connecticut Exchange Facilitator Fidelity Bond"}]},{"@type":"Person","@id":"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605","name":"C. Poindexter","sameAs":["https:\/\/www.SuretyOne.com","https:\/\/www.facebook.com\/Surety1","https:\/\/twitter.com\/SuretyOne"]}]}},"_links":{"self":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1290"}],"collection":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/comments?post=1290"}],"version-history":[{"count":1,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1290\/revisions"}],"predecessor-version":[{"id":1882,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1290\/revisions\/1882"}],"wp:attachment":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/media?parent=1290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/categories?post=1290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/tags?post=1290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}