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SURETY BOND BLOG

Tag Archives: North Carolina

17
Oct
2011

North Carolina Release Of Lien Bond

Commercial real estate is affected by new surety legislation in North Carolina. The new law is named HB 174 and implements measures for filing liens on commercial real estate which allows a surety bond equivalent to 125% of the amount of the lien claim to be used to release the lien. HB 174 became effective read more »




25
Aug
2010

North Carolina Pre-Need Funeral Bond

SB 18 is a new law that was introduced in 2009 affecting North Carolina cemeteries; the law repealed the pre-need funeral surety bond. This law originated from the insolvencies of two cemeteries. The surety company was prepared to pay the claims of the individuals whose contracts were not fulfilled, but the quality of the cemeteries’ read more »




23
Aug
2010

North Carolina Alcoholic Beverage Control Commission Bond

Members of the Alcoholic Beverage Control Commission (ABC) in the State of North Carolina must follow a new law that was recently enacted. The new law is labeled HB 1717 and amplifies the quantity of the required surety bond for both the local board members of the Commission and the local store administrators from $5,000 read more »




20
Apr
2010

North Carolina Board of Nursing Bond Update

The executive director of the Board of Nursing is affected by a new law in North Carolina. The new law, which is titled SB 356, terminates the surety bond requirement for the executive director of the Board of Nursing. The law regarding the particulars of the bond, which still is referenced in present law, was read more »




19
Apr
2010

North Carolina Mortgage Loan Originator Bond

North Carolina introduced a new law affecting mortgage loan originators. The new law is named HB 1523 and requires each mortgage loan originator to be covered by a surety bond through employment with a licensed mortgage lender, broker or servicer. The bare minimum surety bond amount for mortgage brokers is $75,000. Should the quantity of read more »




15
Apr
2010

North Carolina Traffic Calming Device Bond

North Carolina implemented a new bill affecting state maintained streets and the homeowners association within the state. The new bill is named HB 182 and provides for the installation of traffic calming devices on State maintained roads in subdivisions with a homeowners association and districts where all property owners have instituted a contract for traffic read more »