How much does a coin operated machine operator bond cost in Arkansas?
The Arkansas Department of Finance and Administration requires all persons who operate coin amusement machines in Arkansas to obtain a $6,000 coin machine operator bond.
SuretyBonds.com issues these $6,000 bonds instantly for just $100. Simply click Buy Now to purchase your bond online using our secure bond checkout. It only takes a few minutes to be on your way to getting bonded as a coin operated amusement machine operator in Arkansas.
|Bond Type||Bond Amount||Cost|
|$6,000 Coin Operated Amusement Machine Operator Bond||$6,000||$100|
Why do I need this bond?
Arkansas amusement machine bonds ensure that the principal (machine operator) promptly pays all fees and faithfully performs all obligated duties stated in Arkansas Code 26-57-401 et seq. If the operator fails to comply with these terms, a claim can be filed against the bond. If the claim is validated, the surety underwriting company that produced the bond will pay damages to the state and/or another harmed party up to the full $6,000 penal sum of the bond. The operator, in turn, will be responsible for reimbursing the surety for any damages paid out.
What’s the fine print?
Surety bonds for the operators of coin operated amusement machines in Arkansas will remain in full effect unless otherwise canceled. To cancel the bond, the surety must send a written cancellation by registered letter to the director of the Department of Finance and Administration 60 days prior to the termination date.
How to become a coin operated machine operator in Arkansas
To run a coin operated amusement machine in Arkansas, an applicant must complete the following forms in addition to getting a surety bond:
- AR-1R registration form
- AR-1R-AMU form
- AMU-AR form (only if additional stamps are needed)
The permit cost an applicant pays is based on the the number of machines they operate. The operation of one to three machines requires a $500 permit, and the operation of four or more machines requires a $1,000 permit. Coin machine operators must also pay $5 to the Commissioner of Revenue for each machine located in Arkansas.
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