SURETY BOND BLOG

Monthly Archives: November 2009

On 04/08/2008, a new law was enacted in the state of Maryland and is regarding septic system installers and permit surety bonds. The new law, HB 305, authorizes the Howard County governing body to oblige permit holders for the installation of a multi-use septic system to obtain a performance bond before any phases of installation read more »

In the state of Maine a new law was introduced concerning telephone utilities within the state. The new law which is named HB 1632, as presented did not affect surety bonds. As enacted, the new law requires telephone utilities to have at least $250,000 in fixed assets and to acquire a surety bond in the read more »

LB 853, a new Nebraska state law, was enacted concerning the proof of financial responsibility from viatical settlement providers. LB 853 requires viatical settlement providers and brokers to supply evidence of financial accountability, which could be in the form of a bond. The surety bond must be $250,000 and be issued by a state authorized read more »

A new Nebraska state law was enacted that expands the coverage of contractors within the state. The new law, LB 1001, modifies the current tax bond requirement for contractors to inflate its coverage. Currently, the surety bond is required before the start of any work on a contract and is conditioned to guarantee the payment read more »

On 06/26/2008, a new law titled SB 309 was enacted in New Hampshire. SB 309 is concerning the regulation of boxing, wrestling, mixed martial arts and kickboxing matches. The promoters of mixed martial arts and kickboxing events now must abide by the same bond requirements of boxing and wrestling promoters and post the same surety read more »