Maryland Professional Solicitors and Public Safety Solicitors Bond
Learn about the importance of this surety bond for professional and public safety solicitors in Maryland!
What is a Professional Solicitors and Public Safety Solicitors Bond?
All persons who applying for a professional solicitors and public safety solicitors’ registration in the State of Maryland, or who is renewing a registration, is required to submit a surety bond along with their application to the Secretary of State.
This requirement is needed in order to protect the contributions that the professional solicitors and public safety solicitors will have legal control of.
The surety bond, which is in pursuance of Section 6-303 of the Annotated Code of Maryland, will ensure that if the professional solicitor and public safety solicitor commits a misconduct, the person who has been affected will be justly compensated.
What is the Professional Solicitors and Public Safety Solicitors Bond amount?
The bond amount is $25,000.
If you have a stellar credit score, you will be eligible for a low bond premium, or just 1% of the bond amount!
Do you want to know your bond premium right now? Get your FREE SURETY BOND QUOTE RIGHT HERE!
How can I get a Professional Solicitors and Public Safety Solicitors Bond?
In order to secure this type of bond, the applicant must seek the assistance of a surety bond company.
You will be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of Maryland
- The surety bond should be made payable to the State of Maryland
- The professional solicitor and public safety solicitor must obey the provisions of the Maryland Solicitations Act as well as the rules and regulations of the Secretary of State, State of Maryland
- If the registered professional solicitor and public safety solicitor commits a violation, the aggrieved party or the Obligee will be eligible to file a claim against the surety bond