Surety Bond Blog » alabama http://www.jwsuretybonds.com/blog General to specific surety bond information, as well as current events within the industry. Thu, 02 Feb 2012 14:49:26 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Alabama Fuel Tax Bond Update http://www.jwsuretybonds.com/blog/alabama-fuel-tax-bond-update http://www.jwsuretybonds.com/blog/alabama-fuel-tax-bond-update#comments Mon, 19 Dec 2011 15:17:17 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=3438
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.

The previous law required the supplier to obtain a bond in an amount equivalent to double the sum of its average monthly excise tax calculated by the Commissioner of the Department of Revenue. The bond minimum was $1,000 but could not surpass $25,000 unless the Commissioner decided that extra bonding was necessary.

]]> http://www.jwsuretybonds.com/blog/alabama-fuel-tax-bond-update/feed 0 Alabama Real Estate Appraisal Company Bond http://www.jwsuretybonds.com/blog/alabama-real-estate-appraisal-company-bond http://www.jwsuretybonds.com/blog/alabama-real-estate-appraisal-company-bond#comments Sat, 03 Sep 2011 12:54:32 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=3216 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.

]]> http://www.jwsuretybonds.com/blog/alabama-real-estate-appraisal-company-bond/feed 0 Alabama Notary Public Bond http://www.jwsuretybonds.com/blog/alabama-notary-public-bond http://www.jwsuretybonds.com/blog/alabama-notary-public-bond#comments Fri, 26 Aug 2011 18:20:22 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=3168 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.

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