Surety Bond News

The State of Utah has enacted a new bill concerning the selling and storing of alcoholic beverages. The bill, which is named SB 314, requires individuals who store, sell or supply alcoholic beverages as a reception center (companies that lease their property to third parties for hosting events) to obtain a $10,000 surety bond. SB 314 also adds a “beer only” alcohol license requirement for restaurants. In order to obtain the license, a $5,000 surety bond must be acquired.

Texas legislators have been busy in the past year enacting new surety laws. This particular law affects public warehouse grain operators. The new law is titled SB 248 and boosts the required Discuss: 3725Comments (0)http%3A%2F%2Fwww.jwsuretybonds.com%2Fblog%2Ftexas-public-warehouse-grain-operator-bondTexas+Public+Warehouse+Grain+Operator+Bond2012-03-13+12%3A25%3A40Eric+Weisbrothttp%3A%2F%2Fwww.jwsuretybonds.com%2Fblog%2F%3Fp%3D3725

Category: Commercial Bonds, Misc. Commerical Bonds, Surety News

Tags: bond requirements, commercial bonds, legislation, Public Warehouse Grain Operator Bond, surety bond, texas, tx

Real estate appraisal management companies in Kentucky now must obtain a surety bond in order to operate legally because of a new law. The new law is named HB 288 and requires real estate appraisal management companies to acquire a bond in an amount that will be established via regulations; but it will not be greater than $500,000.

Driver training schools in Georgia already need a surety bond to become licensed; now they need a bigger bond thanks to a new bill. The new bill is named HB 269 and quadruples the bond required of driver training schools to $10,000. The bond is meant to guarantee the school’s compliance with State laws.

Surety law in Virginia has been modified thanks to a new bill. The new bill is named HB 1852 and changed the surety bond amounts required of the Adjutant General and their fiscal clerks. The previous law required a $10,000 bond of the Adjutant General and also required a $3,000 bond from their clerks. The new bond amounts will be set by administrative processes.