A new Iowa bill that will be enacted in the coming months increased the surety bond required of timber buyers.
Details on the New Requirement
The bill titled IA S 2250, which is effective 07/01/2020, increases the amount of the existing surety bond that a timber buyer must currently file with the Natural Resource Commission from an amount between $3,000 and $15,000 to an amount between $25,000 and $50,000.
How to Apply for a Surety Bond
If you find that you must obtain this surety bond, you’ll need to contact a bond provider who is licensed to to business in Iowa. JW Surety Bonds is licensed nationwide, so please feel free to reach out to us if you’d like assistance with obtaining this bond.