Mississippi legislators have enacted a new bill that concerns proprietary schools within the state. The new bill is named SB 2771 and modifies the surety bond requirements for proprietary schools which previously called for a $50,000 bond. SB 2771 now allows the Commission on Proprietary School and College Registration to establish the size of the bond. The new bill also terminated the amount of the bond for a proprietary school agents. Previous legislation required a $10,000 bond for a permit to become an agent of the school, and blanket bonds were also acceptable to cover all of the school’s agents. SB 2771 now only states that the agent’s bond must be acceptable to the Commission on Proprietary School and College Registration.
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.