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SURETY BOND BLOG

Monthly Archives: October 2009

31
Oct
2009

North Carolina Medicaid Supplier Performance Bond

On 05/26/2008, a new law was introduced referred to as HB 2436. The new North Carolina law permits the North Carolina Department of Health and Human Services to have discretion when requiring Medicaid-enrolled suppliers to provide a performance bond, letter of credit, or an alternative financial instrument in an amount no more than $100,000. Previous read more »




30
Oct
2009

Oklahoma Public Official Bond

The state of Oklahoma enacted a law on May 12th, 2008 referred to as HB 3187. The new law regards public officials and creates the Oklahoma Oilseed Commission. HB 3187 requires all members that handle finances for the commission to individually provide a surety bond. The amount of the required bonds will be established by read more »




30
Oct
2009

Ohio Short Term Lenders License Bond

In the state of Ohio, there is a new law concerning short term lenders. HB 545, enacted on 06/02/2008, controls short-term lenders while requiring licensure and a surety bond from a state licensed surety or bonding company. The surety bond must be at least $100,000 unless the license applicant is a non-profit corporation, in which read more »




29
Oct
2009

North Carolina Irrigation Contractor License Bond

On 08/04/2008, a new law was enacted in North Carolina. The new law, named HB 2353, manages irrigation contractors by way of the new North Carolina Irrigation Contractors’ Licensing Board. HB 2353 now requires a license bond in the amount of $10,000. Surety bonds or letters of credit are also acceptable, and any bonds acquired read more »




28
Oct
2009

Ohio Viatical Settlement Providers & Brokers Bond

Viatical settlement providers and brokers must abide by a new law in the state of Ohio. The new law, titled HB 404, states that viatical settlement brokers and providers must provide a bond from an insurer licensed in the state in the quantity of $250,000. There are other options besides the surety bond that will read more »




27
Oct
2009

North Carolina Professional Employer Organizations (PEO) Bond

A new law was put in place concerning Professional Employer Organizations in the state of North Carolina. The new law, titled HB 738, altered the license bond amount required for Professional Employer Organizations or PEO’s. The prior law called for a surety bond or letter of credit in the amount of $100,000. HB 738 requires read more »