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SURETY BOND BLOG

Monthly Archives: July 2010

21
Jul
2010

Georgia Trust Code Bond

Georgia State presented a new law regarding the Trust Code. The new law is named SB 131 and modifies the Trust Code within the state. SB 131 states that a trustee is required to attain a surety bond only when the court finds it essential to defend the interests of the trust, or if the read more »




20
Jul
2010

Alaska Trustee Bond

Trustees in the State of Alaska must abide by a new bill. The new bill, which is referred to as HB 108, requires any individual acting as a trustee on a deed to acquire a $250,000 surety bond to guard the grantors and beneficiaries of the deed from the trustee’s deception or defalcation perpetrated in read more »




19
Jul
2010

Rhode Island Discount Medical Plan Organization Bond

Discount medical plan organizations operating in the State of Rhode Island must follow a new law titled HB 7606. The new law requires discount medical plan organizations to register and acquire a $100,000 surety bond. HB 7606 allows the Health Insurance Commissioner to utilize the surety bond at their discretion to secure the financial interest read more »




18
Jul
2010

Colorado Waste Tire Facility Operator Bond

A new bill was presented in the State of Colorado concerning waste tire facility operators. The new bill, which is named HB 1018, requires waste tire facility operators to register and satisfy financial assurance necessities for the recovery of the site and guarantee of full payment of all closure and post closure expenses; this includes read more »




17
Jul
2010

Georgia Pharmacy Benefit Manager Bond

SB 310 is a new Georgia State law that was enacted relating to pharmacy benefit managers. The new law requires pharmacy benefit managers to attain a license and also attain a $100,000 surety bond from a state authorized corporate surety company. The sureties have the option to terminate the surety bond with 30 days written read more »




16
Jul
2010

New Hampshire Life Settlement Provider Bond

Life settlement providers must abide by a new law in the State of New Hampshire. The new law is labeled HB 660 and enacts the model act for both life settlement providers and brokers of the National Association of Insurance Commissioners (NAIC). Under the new law, providers and brokers are required to attain a $250,000 read more »