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SURETY BOND BLOG

Tag Archives: Minnesota

04
Jan
2012

Minnesota Contractor License Bond Update

New surety legislation was enacted concerning Minnesota plumbers. The new law is named SB 2 and modifies the surety bond requirements for plumbers; the previous legislation required all licensed contractors who perform plumbing work to acquire a $25,000 surety bond. The new law changes the requirement to pertain to all individuals who perform plumbing in read more »




27
Sep
2011

Minnesota Alcohol Distillery Bond

Some distilleries operating out of Minnesota must abide by new surety bond requirements that were recently put in place. The new law is titled HB 1326 and requires micro-distilleries of premium distilled spirits to acquire a $2,000 surety bond if they are manufacturers/wholesalers of less than 20,000 gallons of 95% alcohol per year. Manufacturers/wholesalers of read more »




04
Oct
2010

Minnesota Contractor License Bond

Plumbers and household installers within the State of Minnesota must abide by a new bill that was recently enacted. The new bill is titled SB 2510 and modifies numerous surety bond requirements relating to plumbers and household installers. SB 2510 terminates the previous exclusion of the surety bond requirements for plumbers working under master plumbers. read more »




28
Sep
2010

Minnesota Consumer Collection Agency Bond

Consumer collection agencies must abide by a new law according to Minnesota State legislation. The new law is named SB 2839 and amplifies the surety bond amount required of consumer collection agencies from $20,000 to $50,000. There is also an additional $5,000 required for every $100,000 acquired from debtors in the state of Minnesota throughout read more »




10
Sep
2010

Minnesota Mortgage Loan Originator Bond

The State of Minnesota enacted a new law concerning mortgage loan originators. The new law is named SB 2510 and requires mortgage loan originators to acquire a surety bond, either by attaining one themselves or through their employer’s bond if they are the member of staff/exclusive agent of an individual subject to the bonding requirements. read more »




22
Jun
2010

Minnesota Post-Secondary Institution Bond

SB 184 is a new law that was presented in Minnesota State relating to post-secondary institutions. The new law authorizes alternative types of security for the present surety bond required of post-secondary institutions that have dropped below the U.S. Department of Education’s minimum financial standards to partake in Title IV programs. The present legislation requires read more »