Rhode Island Banking Regulation 6 Reevaluated
Rhode Island Banking Regulation 6 (more formally known as Surety Bond and Minimum Net Worth Pursuant to the Secure and Fair Enforcement Mortgage Licensing Act of 2009) is set to go into effect Jan. 18….
SBA given authority to approve higher bonds for disasters
The Small Business Administration’s Office of Surety Guarantees typically assists contractors in securing needed surety bonds up to $2 million. A new law gives the SBA the authority to approve surety bonds up to $5…
LLC Contractors in California Need Surety Bond for Licensing
The recent enactment of Senate Bill 392 in California authorizes the Contractors State License Board (CSLB) to issue contractors licenses to limited liability companies effective no later than January 1, 2012. The passing of this…
Illinois Community Currency Exchange Bond
Effective March 2010, the Director of Financial Institutions of Illinois offers a new kind of currency exchange bond that is available to certain enterprises that operate within the state. This bond has become increasingly relevant…
Dishonesty bonds vs. business service bonds — does your business need both?
It’s a sad fact of business life: employees steal. There are two kinds of employee theft a company needs protection against, and different surety bonds cover each one—dishonesty bonds and business service bonds. It can be…