Tag Archives: Alabama

Alabama Fuel Tax Bond Update

Motor fuel tax laws have been revamped in Alabama by a new bill. The bill is named HB 399 and states that suppliers, permissive suppliers and terminal operators must obtain a surety bond in a quantity equivalent to double the average monthly tax liability, but can’t surpass $2 million. Exporters, blenders, importers, and distributors must acquire a minimum bond of $2,000 or the “approximate amount of twice the average monthly tax liability,” whichever is larger. The new bill also states that anyone interested in multiple licenses only needs a single bond which will be calculated by the highest average monthly tax liability of the licenses that they hold. Motor fuel transporters and aviation fuel purchasers are excused of the bonding requirements. (more…)

Alabama Real Estate Appraisal Company Bond

Alabama real estate appraisal management companies have new legislation to abide by. The new law is titled SB 320 and requires real estate appraisal management companies to obtain a $25,000 surety bond to guarantee the company’s compliance with state law. SB 320 states that the surety’s aggregate liability can’t surpass the sum of the bond. This new law will become effective on October 1, 2011.

Alabama Notary Public Bond

Alabama notaries now must obtain a larger bond than in the past. The new bill, which is named SB 54, redrafted the legislation for notary publics. The previous law required a $10,000 surety bond. SB 54 requires notaries to obtain a $25,000 bond. The new bill will be effective January 1, 2012.

Alabama Carbon Dioxide Injection Well Bond

Anyone working with injection wells in the state of Alabama may have to meet a new requirement in the near future. The Alabama Department of Environmental Management has suggested new requirements concerning Class VI injection wells for the geologic sequestration of carbon dioxide. The new proposed requirement asks the owner or operator of the well to obtain a surety bond in order to operate legally. The proposed bond guarantees that the wells would be properly maintained or removed once they’re no longer being used.

Phony Surety Bond Costs Church Thousands

Construction work is full of risk being there is so much that can go wrong. A big risk relating to construction work involves the threat of deceitful contractors. Some contractors will go to great lengths just to get their foot in the door for a specific job and then wind up performing negligent work; surety bonds are helpful in these cases because they guarantee that work will be completed properly. Unfortunately for a church in Alabama, a phony bond was used for their renovations and plunged them into a costly lawsuit.

Alabama Emergency Telephone District Bond

AlabamaAlabama State enacted a new bill concerning officials of an emergency telephone district. The new bill, which is referred to as HB 188, requires the members of staff or officials of an emergency telephone district that manage or disburse its funds to acquire a surety bond in a quantity that is no less than the sum funds that the district attained in the previous fiscal year. HB 188 is relevant to county officers, county commissioners, clerk and recorders, sheriffs, coroners, treasurers, assessors, and surveyors.