Illinois Set to Enact Lien Bond Requirement
The 99th Illinois General Assembly has sent a bill to the governor’s office that, if approved, would establish a lien bond as a substitute for real property as the security for the lien. The bill,…
Vehicle Inspection Bond in Florida Increases to $100,000
The Florida House of Representatives has passed legislation on vehicle inspection bonds that will most notably increase the bond amount. Effective July 1, 2015, private rebuilt vehicle inspection facility owners in Florida have to provide…
Livestock Branders in Arkansas Now Required to Post Surety Bond
In early April, House Bill 1960 passed all respectful chambers and was signed into law. With the enactment of this bill, the Arkansas Livestock and Poultry Commission is now able to contract with private entities…
Bonding Now Required for Arkansas Grain Dealers
On March 26, 2015, Governor Asa Hutchinson enacted Senate Bill 555 requiring all grain dealers in the state of Arkansas to post a surety bond as a form of financial security. Prior to the enactment…
Kansas money transmitter bond increased from $500,000 to $1 million
Kansas House Bill 2216 was passed on April 29, 2015, increasing the maximum bond amount for money transmitters from $500,000 to $1 million. The bill establishes two factors as the new basis for which the State Bank…