Arkansas tobacco manufacturers have a new bond requirement to abide by thanks to a new bill named HB 1950. The new bill requires all tobacco manufacturers that aren’t participating in the Master Settlement Agreement to obtain a surety bond in the quantity of $50,000 or the amount the manufacturer was required to deposit in escrow as a result of its two prior calendar quarters’ sales in the State, whichever amount is more. This surety bond is also needed in order to be registered with the state Tobacco Registry.
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. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.