Kentucky Contractor License Bond

There are new contractor license bond requirements to follow in Kentucky State. A new bill named HB 247 requires radon mitigation and measurement professionals to acquire a $10,000 surety bond in order to be legally registered with the state. The surety bond must be issued by a corporate surety company who is licensed within the state. The surety company’s liability is equal to the total amount of the bond; like most commercial bonds the new law authorizes cancellation of the surety bond by the surety with advance written notification.