Surety Bond Blog

South Dakota Grain Warehousemen Bond Update

Eric Weisbrot — Tue, 01 May 2012 12:21:06 +0000

The state of South Dakota has enacted a new surety bond claim procedure for warehouseman bonds. The new law is labeled HB 1036 and modifies the claim procedure for bonds obtained by grain warehousemen. The present legislation requires anyone who intends to file a claim on a grain warehousemen’s bond to inform the Public Utilities Commission while the individual activating a claim can only advance if the Commission isn’t instituting a claim on the bond. HB 1036 requires the Commission to respond in writing within 60 days of word from anyone attempting to file a claim on the bond; if the Commission doesn’t reply, the individual claimant is allowed to take action on the bond regardless.

Texas Talent Agency Bond Update

Eric Weisbrot — Mon, 30 Apr 2012 12:30:16 +0000

A couple of surety bond requirements were eliminated in Texas due to a new law. The new law is named HB 3167/SB 1168 and removes the law requiring bonds in the amount of $10,000 and $5,000 for talent agencies and personnel services respectively.

Virginia Auto Dealer Bond Update

Eric Weisbrot — Wed, 25 Apr 2012 12:08:59 +0000

Virginia legislators have enacted a new bill concerning the liability of surety companies when it comes to auto dealer bonds and attorney fees. The law is labeled HB 171 and changes the existing law and states that the surety on a bond is responsible for any claims and attorney fees accumulated on a bond. The inclusion of attorney fee’s can be a very unfair practice and the attorney fee abuse in Florida is a great example of why.