H 179/S 231 – Motor Vehicles-Certificates of Title. Would revise the amount of the bond required to obtain a certificate of title, which is currently 1.5 times the value of the vehicle; provides that the Department of Revenue would determine the surety bond amount. The reason behind this is many of the bonds issued where not high enough to cover the true car value
Archive for March, 2010
Surety bond-Certificates of Title
Tuesday, March 16th, 2010Surety bond and your business
Monday, March 15th, 2010Has this happed to you?
I have my General liability, office location, phone number, sign and now the state is saying I need a bond a surety bond.
This can pose a big problem for your business because everything is now put on hold until you meet this requirement. So what is a surety bond ?
A Surety Bond guarantees whatever the underlying statute, state law, municipal ordinance, or regulation requirement.
A surety bond is underwritten like a loan the surety will review your credit, financial’s and experience to determine a rate.
A Surety Bond guarantees whatever the underlying statute, state law, municipal ordinance, or regulation requires. They may be required for a number of reasons.
So before you apply for your license make sure you can qualify for the bond first.
MISSISSIPPI Surety Bond | Money Transmitter Bond
Monday, March 1st, 2010Mississippi has just passed S 2652 this new regulation effects all Money transmitters (Sellers of Checks). This new law is effective 7/01/10 and will require Money transmitters (Sellers of Checks) to obtain a Surety bond also know as a Money transmitter bond. The Bond amount will be set at $25,000 or an amount equal to the outstanding money transmissions. The previous bond amount had a cap at $250,000; the new bond cap is now set at $1,000,000.
