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New York
Town of Oyster Bay Collateral Loan Broker License Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $10,000
Term Length: 1 year
Cost: $100
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Town of Oyster Bay Collateral Loan Broker Bond Guide

If you’re applying for a collateral loan broker license in the Town of Oyster Bay, New York, you’ll need this surety bond. 

Bond Overview

  • Purpose: To protect anyone harmed by a loan broker’s misconduct
  • Who Needs It: All collateral loan broker licensees in Oyster Bay, NY
  • Regulating Body: The Town of Oyster Bay
  • Required Coverage: $10,000
  • Premium Rate: $100 for a 1-year term

Learn all about the bond requirements and process in this guide. 

What Is a Town of Oyster Bay Collateral Loan Broker Bond?

A Town of Oyster Bay, New York collateral loan broker license bond is financial security to protect clients from potential misconduct. It ensures that brokers operate according to state and local laws.

How Much Do Collateral Loan Broker Bonds Cost?

A $10,000 Town of Oyster Bay collateral loan broker license bond costs a flat rate of $100 for a 1-year term. Or, you can save 25% by selecting a multi-year term. 

Click below to buy your bond in minutes!

Bond Type
$10,000Collateral Loan Broker License Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Do I Get My Bond?

With SuretyBonds.com, you can buy your Town of Oyster Bay collateral loan broker license bond instantly online. Just enter your information and checkout in minutes. 

We’ll mail you the bond via your preferred shipping method. Be sure to file it with the obligee as instructed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does an Oyster Bay Collateral Loan Broker Bond Work? 

A collateral loan broker license bond creates a legal contract between these three parties: 

  1. Principal: You, the collateral loan broker filing the bond
  2. Obligee: The Town of Oyster Bay requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Consolidated Rules of New York 20-15 and Chapter 94 of the Code of the Town of Oyster Bay. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your collateral loan broker license bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

Call 1 (800) 308-4358 to talk with a Surety Expert

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