It’s the end of the year again, and along with the looming end of the holiday season, quite a lot of surety bonds are due to expire on December 31.
This should not ruin your holiday mood because with JW Surety Bonds you can renew your bonds very quickly and conveniently while saving on costs. In this way you will ensure your seamless compliance with state regulations. This will guarantee your license’s validity and legality of operations.
Below is a review of the surety bond renewal deadlines for December, grouped according to the particular field of operation. Check your bond dates – you may need to contact your surety agent to obtain the appropriate renewal.
Auto dealer bonds
Auto dealership bonds expire on December 31 in the following states:
- Montana – Motor vehicle dealership bond
- Nebraska – Motor vehicle dealership bond
- Rhode Island – Motor vehicle dealership bond
- Oklahoma – Motor vehicle dealership and motor vehicle salesperson bond
- Georgia – Used motor vehicle parts dealership bond
- Louisiana – Used motor vehicle parts dealership bond
- Illinois – Designated agents bond
- Florida – Franchise dealership bond
If you are running an auto dealership business, you should have already obtained the necessary auto dealer bond for used and/or new cars. The bond is a guarantee that the dealership will abide by state regulations.
For motor vehicle dealerships based in Montana, Nebraska, or Rhode Island, the deadline for renewal of the auto dealer bond is the end of the year. The same applies to dealerships in Oklahoma as well as motor vehicle salespersons licensed there.
Used motor vehicle parts dealers in Georgia and Louisiana will also have to renew their bonds as well as designated agents in Illinois. Franchise dealers in Florida should take care to obtain their renewal by December 30.
Mortgage broker bonds
Mortgage broker bonds expire on December 31 in the following states:
- Michigan – secondary mortgage bond
Mortgage brokers also need surety bonds to license their operations. The bonds ensure their compliance with the state laws regulating the mortgage business.
Mortgage brokers, lenders and servicers in Michigan will have to make sure their bond is renewed by the end of the year.
Telemarketing bonds expire on December 31 in the following states:
Telemarketers will have to double check their bond expiration dates as well. The telemarketing bonds are also known as solicitor bonds. Their aim is to guarantee that solicitors will follow the rules of their respective states in terms of their telemarketing activities.
Professional solicitors based in Kentucky and Massachusetts should renew their telemarketing bonds at the end of the year.
Finance bonds expire on December 31 in the following states:
- Georgia – Paid solicitors bond
Paid solicitor bonds are a part of the finance bond category. They refer to solicitors that work as fundraisers for charitable organizations. They are required in the licensing process in order to guarantee solicitors’ compliance with state regulations.
Paid solicitors operating in Georgia will have to renew their bonds by the end of the month.
Brewers, distillers and vendors of alcohol products are often required by the state they work in to obtain a liquor bond. Its aim is to ensure the proper filing of taxes by these businesses.
Such businesses in Texas that have a mixed beverage gross receipts tax bond must renew their license by the end of this month.
Sales tax bonds
The sales tax bond is a part of the tax & fees bonds category. The bond guarantees that vendors of goods other than fuel, tobacco and alcohol, such as convenient stores and retail owners, will report and pay the necessary taxes to the state in which they are operating.
Sellers based in Texas will have to renew their continuous sales tax bond at the end of the year.
Investment advisor bonds
Investment advisor bonds expire on December 31 in the following states:
- Utah – Investment advisor bond
In the indemnity bonds field, the investment advisor surety bond guarantees that investment advisors who are providing advice for consumer investments will abide by the state regulations.
In case your business is in any of these fields and in the relevant states, it is a good idea to get your surety bond or license renewed soon. Keep in mind that the end of December will arrive quickly because of the holidays, so it is wise to get your in place now.