Money transmitters in the state of Arkansas are affected by a new law update named SB 450. The new law was enacted on March 19th, 2009 and eradicates the alternative types of security that is allowed to be submitted under present law for the license bond requirements for money transmitters; only a surety bond is authorized under the new law. SB 450 was introduced on 2/23/2009.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.