The State of New Jersey has enacted a new law concerning off-track wagering facilities. The new law is named SB 3185 and requires a $1MM surety bond of off-track wagering facilities who become licensed on or after the effective date of this law. The bond guarantees the licensees compliance with laws and regulations. SB 3185 is effective going back to December 31, 2011.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.