HB 2822, which was enacted in Arizona on July 7, 2008 changed the financial responsibility requirements for businesses in pest control. Previously, a cash deposit, certified check, obtaining liability insurance, or obtaining a surety bond was required. With this new law, “self-insured retention� was added as an acceptable method to meet the financial responsibility requirements. The new law also increased the minimum required from $300,000 to $500,000. The insurer issuing the bond is no longer required to be licensed in Arizona. The new law also eliminates the requirement for license suspension if the bond is issued for less than the minimum.
Arizona Pest Control Bond
June 13, 2009 by Lisa Grimsley
Category: Commercial Bonds, Surety NewsTags: arizona, bond requirements, legislation, surety bond |
