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SURETY BOND BLOG

Monthly Archives: September 2010

30
Sep
2010

Mississippi Money Transmitter Bond

SB 2652 is new legislation that was enacted in the State of Mississippi regarding sellers of checks. The new law alters the quantity of the surety bond required for sellers of checks and re-labels them as money transmitters. The previous legislation required a surety bond or alternative security in a minimum quantity of $25,000 and read more »




29
Sep
2010

Louisiana Child Support Collection Agency Bond

Louisiana State introduced a new law concerning private child support collection agencies. The new law is titled SB 130 and requires private child support collection agencies to acquire a $50,000 surety bond or cash deposit in order to do business in the state. The surety bond must be written by a state licensed surety company read more »




28
Sep
2010

Minnesota Consumer Collection Agency Bond

Consumer collection agencies must abide by a new law according to Minnesota State legislation. The new law is named SB 2839 and amplifies the surety bond amount required of consumer collection agencies from $20,000 to $50,000. There is also an additional $5,000 required for every $100,000 acquired from debtors in the state of Minnesota throughout read more »




27
Sep
2010

Florida Consumer Debt Collection Agency

The State of Florida presented a new bill relating to consumer debt collection agencies. The new bill, which is referred to as SB 2086, requires consumer debt collection agencies to acquire a surety bond in relation to the present registration requirements in a quantity that will be established via regulations. The previous law stated that read more »




24
Sep
2010

Illinois Debt Settlement Provider Bond

HB 4781 is a new bill that was enacted within the State of Illinois which concerns debt settlement providers. The new bill requires debt settlement providers to acquire a $100,000 surety bond. The original draft of the bill would have required a minimum $1 million surety bond, but it was modified in the House. The read more »




23
Sep
2010

Kentucky Debt Adjuster Bond

Kentucky State presented a new law relating to debt adjusters. The new law, which is named HB 166, requires debt adjusters to acquire a $25,000 surety bond from a surety company authorized to operate in the Commonwealth. The surety bond is for the benefit of any individual who experienced injuries or damages that was the read more »