http://www.jwsuretybonds.com/blog General to specific surety bond information, as well as current events within the industry. Wed, 08 Feb 2012 13:32:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://www.jwsuretybonds.com/blog/ohio-short-term-lenders-license-bond http://www.jwsuretybonds.com/blog/ohio-short-term-lenders-license-bond#comments Fri, 30 Oct 2009 17:45:48 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=967 In the state of Ohio, there is a new law concerning short term lenders. HB 545, enacted on 06/02/2008, controls short-term lenders while requiring licensure and a surety bond from a state licensed surety or bonding company. The surety bond must be at least $100,000 unless the license applicant is a non-profit corporation, in which case the bond requirement is reduced to $50,000. The term of the bond runs along with the license period. HB 545 became operational 3 months after it was filed with the Secretary of State.

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