In the state of New Hampshire a new law was put in place. The new law, HB 1351, states that off-highway recreational vehicle (OHRV) and snowmobile registration agents have the option of posting a surety bond when certain breaches of the agreement between the agent and the Fish and Game Department have been perpetrated. The surety bond can be obtained in lieu of the agreement being terminated when the infringement is related to the handling of state funds. The surety bond has to be issued by a state licensed surety and must guarantee the payment of all state funds collected accordingly of agent registrations issued for the state; a surety bond option already exists under current law for license agents who issue licenses, tags, stamps, permits for hunting/fishing.
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New Hampshire Recreational Vehicle & Snowmobile Registration Agents Bond
November 7, 2009 by Eric WeisbrotCategory: Auto Dealer Bonds, Commercial Bonds, Surety NewsTags: bond requirements, legislation, New Hampshire, NH, OHRV, Recreational Vehicle Dealer Bond, Snowmobile Registration Agents Bond, surety bond | Comments (0)
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North Carolina Unemployment Insurance Fund Contributions Bond
November 6, 2009 by Eric Weisbrot
On 08/03/2008, a new law referred to as SB 741, was enacted in North Carolina. SB 741 was put in place concerning Unemployment Insurance Fund Contributions. The new regulation requires cash, a surety bond, or an irrevocable letter of credit provided by non-profit organizations that elect to become liable for payments in lieu of contributions into the State’s Unemployment Insurance Fund. Under the existing law, organizations making such an election must do so for at least a period of four calendar years. Any surety bonds acquired have to be from a company licensed in the state and must remain in effect for no less than two years; the bond has to be renewed, subject to the approval of the Employment Security Commission. The surety bonds purpose is to secure the payments the association makes. Category: Commercial Bonds, Surety NewsTags: bond requirements, legislation, NC, North Carolina, surety bond, Unemployment Insurance Fund Contributions Bond | Comments (0)
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Oklahoma County Commissioner Property Sale Bond
November 5, 2009 by Eric Weisbrot
On 06/02/2008, there was a new law enacted in the state of Oklahoma labeled HB 2566. HB 2566 approves county commissioner boards to put real property up for sale. The triumphant bids must be 25% more than the certified appraised worth of the real property in order to be considered. The new law states that the successful bidders must post an “irrevocable bond or letter of credit.” The bond must be submitted within 15 days of the sale and must be equivalent to the purchase price; if the surety bond is not submitted within the given time period it will result in a rejection of the bid. Category: Commercial Bonds, Surety NewsTags: bond requirements, Commissioner Property Sale Bond, legislation, OK, oklahoma, surety bond | Comments (0)
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New Hampshire Charitable Game Operators Bond
by Eric WeisbrotOn 01/02/2008, a new law was introduced to the state of New Hampshire titled HB 1302. HB 1302 was put in place concerning all charitable game operators; it raised the amount of the license surety bond required from charitable gaming operators from $20,000 to $300,000. HB 1302 was enacted on 06/27/2008. Category: Commercial Bonds, Surety NewsTags: bond requirements, Charitable Game Operators Bond, legislation, New Hampshire, NH, surety bond | Comments (0)
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North Carolina Water & Sewer Systems Bond
November 4, 2009 by Eric WeisbrotIn North Carolina, there is a new law enacted named HB 2499. The new law eradicated a bond requirement in connection with a potential water emergency during a drought. HB 2499 called for the diversion of water reserves during the emergency to the affected region in need. The individual controlling the water/sewage systems and the water lines became liable for any damages resulting from the placement of the temporary water lines. That individual had to post a surety bond that was conditioned on payment to any persons enduring any damages. Category: Commercial Bonds, Other, Surety NewsTags: NC, North Carolina, sewage systems, water systems | Comments (0)
