Maine Exchange Facilitator Bond

MaineExchange facilitators must abide by a new bill presented in the state of Maine. The new bill, which is referred to as HB 144 regulates exchange facilitators; they are those that facilitate like-kind property exchanges abiding by the federal tax code. HB 144 requires these individuals to be licensed, and to acquire one of the following: a fidelity bond or surety bonds in a quantity no less than $250,000 from a State licensed insurer. Some alternative options to the bonds are to put up cash, securities, or an irrevocable letter of credit for an equivalent amount.