Florida Controlling Interest Bond

FloridaAny individuals interested in becoming a controlling interest in a health agency must follow a new bill introduced in Florida State. The new bill, named SB 2658, requires applicants and individuals who want to be a controlling interest in a home health agency, a home medical equipment provider, or a health care clinic to obtain a surety bond; the bond must be at a minimum of $500,000 if the individual had not been a legal resident of the U.S. for a minimum of five years. The surety bond guarantees fulfillment and compliance with the new bill. Once the residency requirement is fulfilled, no surety bond is called for. SB 2658 was enacted on June 16th, 2009.