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SURETY BOND BLOG

Monthly Archives: March 2010

31
Mar
2010

Montana Captive Bond

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 »




31
Mar
2010

Missouri Financial Officer Bond

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 »




30
Mar
2010

Mississippi Mortgage Originator Bond

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 »




30
Mar
2010

Minnesota Sewage Treatment Contractor Bond

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 »




29
Mar
2010

Michigan Mortgage Loan Originator Bond

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 »




29
Mar
2010

Missouri Mortgage Originator Bond

The state of Missouri has implemented a new bill concerning mortgage originators. The new bill is named HB 382 and requires mortgage originators to be licensed and to be covered by a surety bond required of mortgage loan brokers. HB 382 asks residential mortgage loan brokers to acquire a surety bond that covers all of read more »