SURETY BOND BLOG

Monthly Archives: March 2010

Montana State introduced a new law relating to captive insurance companies. The new law, which is titled HB 160, authorizes a captive insurance company to write surety insurance. The law states that a pure captive has the option to write surety bonds for its parent and associated companies but only for its members if it read more »

New legislation was enacted regarding charter school financial officers in the state of Missouri. The new law, which is referred to as SB 291 authorizes the chief financial officer of a charter school to acquire an insurance policy supplying coverage for employee thievery in place of the surety bond required under the present law. The read more »

Mortgage loan originators are affected by a new bill that was presented in the state of Mississippi. The new law, which is labeled SB 2983, requires mortgage loan originators to be covered by a surety bond in a quantity that is calculated by the dollar amount of the loans originated. Should the loan originator be read more »

In the state of Minnesota, sewage treatment contractors are impacted by a new law which is referred to as HB 1275. The new law requires sewage treatment contractors to acquire a $25,000 surety bond. The surety bond must cover both plumbing work and subsurface sewage treatment work. The present law requires a license bond in read more »

Mortgage loan originators are affected by a new Michigan state law which is referred to as SB 462. The new law requires mortgage loan originators to be licensed and to get their hands on a surety bond in an amount calculated by the dollar volume of loans that the originator closed in the preceding year. read more »