Surety Bond News

A new surety requirement was put in to place concerning temporary work camps in North Dakota. The new law is named SB 2361 and requires a surety bond for temporary work camp housing, and more specifically the installation and deconstruction of said work camps. The owner of the work camp must provide a surety bond to the city/county where the work camp is being setup. The city/county will determine the appropriate bond amount.

The State of Texas has been in a surety bond requirement making frenzy as of recent. One of the new laws they enacted is titled HB 422 and allows the Department of Transportation to issue permits to motor carriers transporting oversize/overweight loads; but in order for a motor carrier to obtain one of these permits, they must obtain a surety bond in an amount that the DOT will determine appropriate. The bond guarantees that the motor carrier will pay any damages to the DOT that may be sustained to state highways during transport.

The State of North Dakota has enacted a new bill which changes the surety bond requirement for money brokers. The new bill, which is named SB 2124, modifies the bond requirement for money brokers by making the present $25,000 required bond the minimum that’s acceptable. The bond exists to guarantee money brokers within the state will follow laws and regulations.

New Hampshire legislators have made some changes to the surety law concerning gaming operators operating games of chance. The new law is named HB 348 and boosts the maximum required surety bond for operating games of chance to $500,000 and adds a minimum bond of $25,000. The previous law required a maximum bond of $300,000. HB 348 states that the bond amount will be calculated by each licensee’s usual outstanding obligations of charity payments and state taxes which the old law did not do.

Wedding chapels in Nevada can now issue marriage licenses thanks to surety bonds. A new bill titled SB 381 allows counties with less than a 100,000 populace to authorize commercial wedding chapels to issue marriage licenses. In order for the chapel to be eligible, it must be in business for five years or more, register with the county clerk, and must acquire a $50,000 performance surety bond. The bond guarantees the safekeeping of personal information of those applying for the marriage license.