Louisiana State introduced a new law concerning private child support collection agencies. The new law is titled SB 130 and requires private child support collection agencies to acquire a $50,000 surety bond or cash deposit in order to do business in the state. The surety bond must be written by a state licensed surety company and it must be conditioned on the cooperation with the anticipated legislation; this includes the authentic execution of the agency’s agreements with its clients.
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.