If a repair shop intends to sell an abandoned vehicle with a missing title, Colorado’s amendment SB 144 states that they would need to provide a surety bond of twice the amount of the retail fair market value of the vehicle. This law became effective January 1, 2009.
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Colorado Lost Vehicle Title Bond
August 25, 2009 by Lisa GrimsleyCategory: Commercial Bonds, Misc. Commerical Bonds, Surety NewsTags: bond requirements, co, colorado, legislation, lost vehicle title, surety bond, title bond | Comments (0)
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Colorado Home Health Agency Bond
August 22, 2009 by Lisa GrimsleyThe Colorado State Board of Health is now required to adopt rules for home health agencies to obtain professional liability insurance or a surety bond. The required amounts of the bonds will be set by these rules. This amendment SB 153 became effective on August 5, 2008.Category: Commercial Bonds, Surety NewsTags: bond requirements, co, colorado, home health agency bond, legislation, surety bond | Comments (0)
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Colorado Leasing Company Unemployment Tax Bond
August 20, 2009 by Lisa GrimsleyEffective August 5, 2008, Colorado’s SB 114 amended its law to require employee leasing companies to provide evidence of security of its unemployment tax withholding. This may be done with a surety bond, cash, or a letter of credit. The amount of the surety bond should equal half of the average annual amount of tax that was levied the previous year. For new companies, the company’s own estimate of 50% of the estimated projected taxable payroll for the current year multiplied by the standard tax rate will calculate the amount of the bond. If the company does not wish to provide a bond, cash, or a letter of credit, they may instead provide independently audited CPA prepared financial statements or evidence that a bonded and independent qualified assurance organization has accredited the company.Category: Commercial Bonds, Surety NewsTags: bond requirements, co, colorado, employee leasing company, legislation, surety bond, tax bond, unemployment tax bond | Comments (0)
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Colorado Manufactured Home Installers Bond
August 15, 2009 by Lisa GrimsleyEffective June 2, 2008, Colorado’s HB 1319 amendment no longer requires bonds after January 1, 2009 for registered manufactured home installers. It does increase the amount of liability insurance required. When the installer registers, a $10,000 surety bond, letter of credit, deposit, or a certificate of deposit is required.Category: Commercial Bonds, Surety NewsTags: bond requirements, co, colorado, legislation, manufactured home, manufactured home bond, manufactured home installer, mobile home, mobile home bond, surety bond | Comments (0)
