Louisiana Structured Settlement Purchase Company Bond Guide
If you’re applying for a structured settlement purchase company license in Louisiana, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure the company operates legally and fulfills obligations to the customer
- Who Needs It: Structured settlement purchase companies in Louisiana
- Regulating Body: The Louisiana Secretary of State
- Required Coverage: $50,000
- Premium Rate: Typically $500–$5,000, credit based
Learn all about the bond requirements and process in this guide.
What Is a Louisiana Structured Settlement Purchase Company Bond?
A Louisiana structured settlement purchase company bond protects clients who sell structured settlement plans to companies for a discounted lump sum.
This bond ensures that company owners and employees operate ethically and follow state regulations.
How Much Do Structured Settlement Purchase Company Bonds Cost in Louisiana?
A $50,000 Louisiana structured settlement purchase company bond costs a small percentage of the bond amount, typically $500–$5,000.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Structured Settlement Purchase Company Bond?
The Louisiana Secretary of State requires this bond as part of the licensing process for structured settlement purchase companies in the state.
As an alternative, you can submit a letter of credit or a cash bond. However, a surety bond is often the most affordable option, requiring only an upfront premium and no collateral.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Louisiana structured settlement purchase company bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Secretary of State as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Louisiana Structured Settlement Purchase Company Bond Work?
As with all surety bonds, a structured settlement purchase company bond creates a legal contract between three parties:
- Principal: You, the structured settlement purchase company filing the bond
- Obligee: The Louisiana Secretary of State requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Louisiana Code § 2713.2.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your structured settlement purchase company bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
