Surety Bond News

The State of Texas has added another surety bond requirement affecting foreclosure consultants. The new law is labeled SB 767 and applies the same bond requirements to foreclosure consultants that are in effect for credit services organizations; this means they must obtain a $10,000 surety bond.

Racetrack operators must obtain a surety bond thanks to a new law. The new law is named HB 2271 and requires racetrack operators to acquire a bond in an amount that will be established by the Racing Commission. The bond will guarantee compliance with state law.

The State of Texas has been in a surety bond requirement making frenzy as of recent. One of the new laws they enacted is titled HB 422 and allows the Department of Transportation to issue permits to motor carriers transporting oversize/overweight loads; but in order for a motor carrier to obtain one of these permits, they must obtain a surety bond in an amount that the DOT will determine appropriate. The bond guarantees that the motor carrier will pay any damages to the DOT that may be sustained to state highways during transport.

Texas legislators have been busy in the past year enacting new surety laws. This particular law affects public warehouse grain operators. The new law is titled SB 248 and boosts the required Discuss: 3725Comments (0)http%3A%2F%2Fwww.jwsuretybonds.com%2Fblog%2Ftexas-public-warehouse-grain-operator-bondTexas+Public+Warehouse+Grain+Operator+Bond2012-03-13+12%3A25%3A40Eric+Weisbrothttp%3A%2F%2Fwww.jwsuretybonds.com%2Fblog%2F%3Fp%3D3725

Category: Commercial Bonds, Misc. Commerical Bonds, Surety News

Tags: bond requirements, commercial bonds, legislation, Public Warehouse Grain Operator Bond, surety bond, texas, tx

Vehicle inspectors in the state of Texas are affected by new legislation that was recently enacted. The new law is titled SB 197 and requires vehicle inspectors to obtain a $5,000 surety bond and guarantees that the inspectors will follow State law.