http://suretybondauthority.com/weblog Your unbiased source for surety bonding information... Sun, 31 Jan 2010 13:36:20 +0000 http://backend.userland.com/rss092 en As of July 1, 2009, HB 1359 established an increase in the license bond amount required for all exterminators of termites and structural pests operating in the state of Arkansas. The license bond amount doubled from $50,000 to $100,000. However, HB 1350 did not increase the surety bond amount required ... http://suretybondauthority.com/weblog/commercial-bond/license-bond-amount-increase-for-arkansas%e2%80%99-exterminators-of-termites-and-structural-pests/ Effective upon the March 25, 2009 enactment of HB 1002/SB 26, all vendors in the state of Arkansas are now required to either obtain a lottery and lotto bond (type of surety bond), a letter of credit, or securities for contracts with the Arkansas Lottery Commission. All surety bond amounts ... http://suretybondauthority.com/weblog/commercial-bond/lottery-and-lotto-surety-bond-requirement-for-arkansas-vendors/ Enacted on July 10, 2009, Arizona HB 2486 mandates that the state’s commercial mortgage brokers now be subject to the existing laws regulating residential mortgage brokers. This existing law requires that all mortgage brokers (residential and commercial) be both licensed by the state, and obtain the necessary mortgage broker bond. ... http://suretybondauthority.com/weblog/commercial-bond/commercial-mortgage-brokers-in-arizona/ Effective on October 2, 2009, Arizona House Bill (HB) 2143 mandates that all mortgage loan originators operating in the state must be officially employed by either a consumer lender, mortgage banker or a mortgage broker. These mortgage loan originators must also be covered by their employer’s surety bond (mortgage broker ... http://suretybondauthority.com/weblog/commercial-bond/new-arizona-law-pertaining-to-mortgage-loan-originators/ Alabama SB 249, which was enacted on May 21, 2009, created a licensing requirement for all mortgage loan originators, as well as a requirement for them to be covered by a surety bond. However, the law does allow mortgage loan originators to use the surety bond of someone whom they ... http://suretybondauthority.com/weblog/commercial-bond/surety-bond-coverage-requirement-for-alabama%e2%80%99s-mortgage-loan-originators/ Enacted on May 22, 2009, Alabama SB 151 changed the way manufactured homes are regulated. While in the past, manufactured homes fell under the same titling law as motor vehicles, they are not treated separately. Pertaining to motor vehicles, if the Department of Revenue is not satisfied with regards to the ... http://suretybondauthority.com/weblog/commercial-bond/new-alabama-regulations-for-manufactured-homes-and-related-professionals/ Enacted on May 22, 2009, Alabama SB 111 mandated a couple of changes to the surety bond requirements for public officials in every county. Under the new law, any county employee or official that the county commission designates will be required to obtain a surety bond. County commissions can mandate ... http://suretybondauthority.com/weblog/commercial-bond/surety-bond-changes-for-county-officials-throughout-alabama/ Similar to my recent post about SB 232 (Mortgage Broker Bonds), Alabama SB 234 created a new surety bond requirement for the state’s consumer lenders. The new law, effective on November 21, 2009, grants the State Banking Department the authority to make consumer lenders obtain a license bond in place ... http://suretybondauthority.com/weblog/commercial-bond/license-bonds-for-alabama%e2%80%99s-consumer-lenders/ Effective on November 21, 2009, Alabama SB 232 created a new surety bond requirement for the state’s mortgage brokers. This bill allows the State Banking Department to require mortgage brokers to obtain a mortgage broker bond in place of meeting current net worth requirements. Surety bond amounts will be determined ... http://suretybondauthority.com/weblog/commercial-bond/new-mortgage-broker-bond-requirement-in-alabama/ On May 21, 2009, with the enactment of Alabama’s Senate Bill (SB) 98, the Alabama Boxing Commission was created. SB 98 also requires all Alabama-based boxing promoters to be officially licensed by the state, and to obtain and post a performance bond (license bond). Specific amounts and conditions for the ... http://suretybondauthority.com/weblog/commercial-bond/alabama-boxing-commission-created-new-surety-bond-requirement-for-boxing-promoters/