On 03/31/2008, a new law titled SB 433 was introduced in Louisiana regarding credit repair organizations. SB 433 demands that credit repair services organizations now must file the required bond under existing law with the Attorney General instead of the Office of Financial Institutions. All cancellations now must be sent to the Attorney General additionally. The new law eradicates the opportunity of a trust account in lieu of the bond.
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.