Alabama Surety Bonds
What is a surety bond in Alabama? A surety bond is a three-party guarantee. The principal (the business or person who buys the bond) promises to follow the law or fulfill an obligation, the obligee (the state agency, court, or other party that requires the bond) is protected if the principal fails to do so, […]
Alabama Title Agent Bond
Alabama does not set a single flat statutory surety bond amount for title insurance agents. Title insurance agents and agencies are licensed and regulated under the Alabama Title Insurance Act, Ala. Code Title 27, Chapter 25, and its implementing rules, Alabama Insurance Regulation No. 148 (Ala. Admin. Code Chapter 482-1-148). Under that law an agent qualifies […]
Alabama Motor Vehicle Dealer Bond
Alabama motor vehicle dealers must file a $50,000 continuous surety bond with the Alabama Department of Revenue (ALDOR), Motor Vehicle Division before a dealer license is issued. The amount is set at fifty thousand dollars ($50,000) by Alabama Administrative Code Rule 810-5-12-.02 and required under Ala. Code 40-12-398. Unlike many states, Alabama uses one flat […]
Alabama Sales Tax Bond
An Alabama sales tax bond is a $25,000 one-time surety bond required by the Alabama Department of Revenue (ALDOR) under Ala. Code Section 40-23-6. It is not a bond that every Alabama retailer posts. It applies to two groups: a retailer who sells beer, wine, or tobacco products and is applying for a new sales […]
Alabama Public Official Bond
An Alabama public official bond is a surety bond that guarantees an elected or appointed officer will faithfully discharge the duties of the office. Under Ala. Code 36-5-5, the bond is made payable to the State of Alabama and is conditioned that the officer will faithfully discharge the duties of the office for as long […]
Alabama Mortgage Broker Bond
To hold a mortgage broker license in Alabama, you file a surety bond with the Alabama State Banking Department (Bureau of Loans) through NMLS. The bond runs from $25,000 to $75,000, and the amount is tiered to the dollar volume of mortgage loans you originated or funded in the prior calendar year. The statute does […]
Alabama Home Inspector Bond
Alabama does not require a home inspector to post a surety bond. To be licensed, a home inspector must instead carry liability and errors and omissions insurance, set by Ala. Code 34-14B-3 and Ala. Admin. Code r. 355-17-1-.06(1)(e): at least $20,000 for property damage, $50,000 for injury or death to one person, $100,000 for injury […]
Alabama Public Adjuster Bond
Alabama does not license or recognize public adjusters, so there is no Alabama public adjuster bond to buy. The Alabama Department of Insurance (ALDOI) states plainly in its licensing FAQ: “Alabama does NOT license or recognize public adjusters.” Because the state has no public adjuster license, it has no public adjuster surety bond requirement, no […]
Arizona License and Permit Bond
What is a license and permit bond in Arizona? A license and permit bond is a surety bond a business or contractor posts as a condition of getting a government license or permit. It guarantees that the license or permit holder will follow the law, ordinance, or regulation that governs the licensed activity. If the […]
Arizona Surety Bonds
What is a surety bond in Arizona? A surety bond is a three-party guarantee. The principal (the business or person who buys the bond) promises to follow the law or fulfill an obligation, the obligee (the state agency, court, or other party that requires the bond) is protected if the principal fails to do so, […]
