North Dakota collection agencies have new requirements to meet in order to stay legal with the state. A new bill, which is named HB 1080, adds a net worth requirement of at least $25,000 for collection agencies. This is on top of the $20,000 surety bond already required of collection agencies.
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.