How much does a notary bond cost in Arkansas?
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Why do I need this bond?
Arkansas notaries must provide the Secretary of State with a $7,500 surety bond before they are commissioned.
Arkansas notary bonds ensure that notaries comply with Act 304 of 1989 and all other Arkansas laws. For a signature to be officially notarized, the following criteria must be met:
- Present at the signing
- Personally knowing the signer
- Having proof to identify the signer
- Recognizing a signature by virtue of familiarity
If a notary public fails to comply with any of the terms of the act and the surety bond contract, a claim can be filed against the bond. If the claim is validated, the surety underwriting company will cover all financial losses suffered by the state and general public up to the full bond amount. The notary must then reimburse the surety for all damages paid out.
What’s the fine print?
Arkansas notary public bonds have 10-year terms. Bonds can be renewed by filing an application with the Secretary of State’s Business and Commercial Services office.
This bond may be canceled by the surety at any time, but a written cancellation notice must be mailed to the Insurance Commissioner 60 days prior to the proposed termination date.
How to become a notary in Arkansas
The Arkansas Secretary of State requires a completed application, a $20 application fee and a $7,500 surety bond as part of the process to become a licensed notary public. Applicants for renewal notary public licenses must include their commission number on the application.
To be eligible to be a notary public, applicants must adhere to the following requirements:
- Minimum 18 years of age
- Citizen or a permanent resident of the United States
- Legal resident of Arkansas or of an adjoining state and employed in Arkansas
- Ability to read and write English
- No notary commission revocation during the past 10 years
- No felony convictions
- Reviewed law concerning notaries public and understand duties of a notary public