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Buy Here, Pay Here Used Car Dealers in Illinois Need Surety Bonds

Bond Legislation Updates February 5, 2020

“Buy Here, Pay Here” Used Car Dealers in Illinois Need Surety Bonds

Illinois used auto dealers who finance the sale of vehicles in-house are required by House Bill 3269 to be licensed and post a surety bond or certificate of deposit. What is the required surety bond…


North Dakota Public Adjusters Now Need Surety Bonds

Bond Legislation Updates November 20, 2019

North Dakota Public Adjusters Now Need Surety Bonds

Passed earlier this year and effective on August 1, 2019, House Bill 1219 established the requirement that North Dakota public adjusters are to be licensed and have a $20,000 surety bond. Previously, those who held…


Surety Bond Required for North Dakota Discount Medical Plan Organizations

Bond Legislation Updates November 6, 2019

Surety Bond Required for North Dakota Discount Medical Plan Organizations

The enactment of North Dakota Senate Bill 2102 on August 1, 2019 amends the North Dakota Century Code as it pertains to North Dakota discount medical plan organizations. This bill adds chapters 26.1-53.1 to the…


Utah House Bill 453 Creates Liquor Transporter Surety Bond

Bond Legislation Updates October 30, 2019

Utah House Bill 453 Creates Liquor Transporter Surety Bond

Utah House Bill 453 went into effect on May 14, 2019, and requires every Utah liquor transporter to apply for a license and obtain a surety bond in the amount of $10,000. The Department of…


Missouri Creates Vehicle Rental Business Bond Requirement

Bond Legislation Updates October 16, 2019

Missouri Creates Vehicle Rental Business Bond Requirement

Under Missouri Senate Bill 368, a vehicle rental business that rents or leases motor vehicles, trailers, boats, or outboard vehicles must post a surety bond in the sum of $100,000. The Missouri Department of Revenue…


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What Does It Mean to be ‘Bonded’?

What Does It Mean to Be ‘Bonded’?

The phrase “licensed, bonded and insured” appears frequently in business advertising—but what does it mean?


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