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SURETY BOND BLOG

Monthly Archives: September 2009

30
Sep
2009

Pennsylvania Conservation Commission To Handle Surety Bonds

Public officials must now abide by a new law referred to as SB 1020 under Pennsylvania state law. The new law cancels existing law, which explains that the state Conservation Commission shall provide for the carrying out of surety bonds for employees/officers, but only those who directly deal with the Commission’s funds or assets. The read more »




28
Sep
2009

South Dakota Money Transmitter Bond

There is a new law regarding money transmitters in South Dakota titled HB 1009. The previous law required a cash deposit or securities of $100,000, and $5,000 for each extra location in the state. The maximum amount one could deposit was $250,000 under prior law. As a replacement for the deposit or securities, a surety read more »




27
Sep
2009

Rhode Island Travel Agent Bond Eliminated

The state of Rhode Island has enacted a new law referred to as SB 2067. The new Rhode Island law was introduced on 01/15/2008 and is concerning travel agents within the state. SB 2067 eliminates the licensing requirement of a $10,000 surety bond for travel agents. The repeal came about for reasons not relating to read more »




26
Sep
2009

Rhode Island Appeal Bond Amendment

There is a new law involving appeal bonds classified as SB 2509. The new Rhode Island bill caps the supersedeas bond at $50 million for all appellants together despite the worth of the judgment; this is done to stay the carrying out of a judgment associated to the Master Settlement Agreement. SB 2509 became law read more »




25
Sep
2009

South Dakota Abstracters of Title Bond Amendment

HB 1008, enacted on 02/12/2008, changes the bond requirement to simplify it for abstracters of title concerning registration in the state of South Dakota. Under the old law, the bond amount requirement was calculated by the population of the county. The updated law requires that if the county population is under 15,000, the required bond read more »




24
Sep
2009

Connecticut Correspondent Lenders Bond

Effective July 1, 2008, correspondent lenders in Connecticut now follow the same bond requirements as mortgage lenders and brokers, according to the HB 5577 enactment. The bond amount is also increased from $40,000.00 to $80,000.00. There are new regulatory requirements for mortgage brokers and lenders. The law specifies new permissible and prohibited actions for mortgage read more »