http://www.jwsuretybonds.com/blog General to specific surety bond information, as well as current events within the industry. Tue, 07 Feb 2012 13:46:56 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://www.jwsuretybonds.com/blog/california-exchange-facilitators-bond http://www.jwsuretybonds.com/blog/california-exchange-facilitators-bond#comments Thu, 13 Aug 2009 15:47:09 +0000 Lisa Grimsley http://www.jwsuretybonds.com/blog/?p=674 Califonia’s SB 1007 law originally did not have any relation to fidelity bonds. When the law was amended and became effective on January 1, 2009, it required exchange facilitators to be licensed and obtain either a minimum $1 million bond or fidelity bond, securities, post cash, or an irrevocable letter of credit in the same amount. Financial Institutions and title insurers, underwritten title companies and controlled escrow companies are exempt from the licensing requirement of the bill, but they still need to comply with the bonding and insurance requirements.

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