Surety Bond News

Legislators in Louisiana State have set a new law concerning coordinated care networks. The Louisiana Department of Health and Hospitals implemented regulations for its Medicaid program regarding coordinated care networks; they are organized health care delivery systems which are meant to enhance access to care services. Any networks functioning under a “shared savings model” are required to obtain a surety bond to guarantee the management fee for the network. The Louisiana Department of Health and Hospitals will establish the required bond amount.

Louisiana State introduced a new law concerning private child support collection agencies. The new law is titled SB 130 and requires private child support collection agencies to acquire a $50,000 surety bond or cash deposit in order to do business in the state. The surety bond must be written by a state licensed surety company and it must be conditioned on the cooperation with the anticipated legislation; this includes the authentic execution of the agency’s agreements with its clients.

Private child support collection agencies must abide by a new law in Louisiana State which is named SB 130. The new law requires private child support collection agencies to register and acquire a $50,000 surety bond or cash deposit. The surety bond must be issued by a State licensed surety company, and it also must be conditioned on conformity to the anticipated legislation including the authentic performance of the agency’s agreements with its patrons.

New legislation was introduced on April 27th, 2009 in the state of Louisiana relating to marine product dealers. The new law, which is labeled SB 175, provides for an appeal process to the new law’s repurchasing requirements for marine products dealers that conclude all business operations. In order to compensate the prevailing party, an appeal bond is required for compliance and cooperation with the Louisiana used Motor Vehicle Commission’s decision.

In the state of Louisiana, a new law was presented relating to notary publics. The new law is titled SB 151 and requires providers of training and instruction to get ready for the Louisiana notary public assessment to register. The providers that are not educational are obliged to acquire a $25,000 surety bond. The surety bond secures the execution of the provider’s services and responsibilities. The surety companies licensed to do business within the state must supply the surety bond.