Arkansas Surety Bonds
What is a surety bond in Arkansas? 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, […]
Arkansas Auctioneer Bond
Arkansas does not require a licensed auctioneer to carry a surety bond. Under the rules of the Arkansas Auctioneers Licensing Board, each auctioneer instead pays a $100 fee into the state Auctioneer Education and Recovery Fund at initial licensure and at each annual renewal, and that fund, not a bond, protects the public. The Recovery […]
Arkansas Health Club Bond
No. Arkansas does not require a health spa or health club to post a surety bond. Under the Arkansas Health Spa Consumer Protection Act (Arkansas Code Annotated 4-94-101 et seq., Act 204 of 1989), a spa or club that sells memberships must instead file an annual registration statement with the Arkansas Secretary of State (Form CFD-03) […]
Arkansas Title Agent Bond
Arkansas does not set a single statutory surety bond amount for title insurance agents. Title insurance agents and agencies are licensed and regulated under the Arkansas Title Insurance Act (Ark. Code Ann. 23-103-401 through 23-103-417) and the state producer licensing law (Ark. Code Ann. 23-64-101 et seq.), and their escrow and closing-fund duties are governed […]
Arkansas Public Official Bond
An Arkansas public official bond is a surety bond that guarantees an elected or appointed officer will faithfully perform the duties of the office and account for the public funds that pass through it. There is no single statewide bond amount. The required amount is set office by office under Arkansas law, and for county […]
Arkansas Sales Tax Bond
An Arkansas sales tax bond is a gross receipts tax security bond required of a person who wants to sell in Arkansas but does not keep a permanent business location in the state. Under Arkansas Gross Receipts Tax Rule GR-88, “every person desiring to engage in business within this State and who does not maintain […]
Arkansas Motor Vehicle Dealer Bond
Arkansas has two motor vehicle dealer bonds, and which one you file depends on the license you hold. Used motor vehicle dealers file a $25,000 corporate surety bond with the Arkansas State Police under Arkansas Code 23-112-607. New (franchise) motor vehicle dealers file a $50,000 corporate surety bond with the Arkansas Motor Vehicle Commission (AMVC) […]
Mississippi Surety Bonds
What is a surety bond in Mississippi? 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, utility, or other party that requires the bond) is protected if the principal fails to do […]
Mississippi Sales Tax Bond
A Mississippi sales tax bond is security the Mississippi Department of Revenue (DOR) can require before it issues a sales tax permit. Under Miss. Code Ann. § 27-65-27, the Commissioner shall require, of every person who wants to do business in the state but maintains no permanent place of business in Mississippi, and of every […]
Mississippi Health Club Bond
A Mississippi health club bond is a $25,000 surety bond that a health spa must maintain in order to sell memberships in the state. Mississippi law uses the term “health spa,” and it defines that term to include health clubs, exercise gyms, health studios, and weight control centers. Under Miss. Code Ann. 75-83-3, “Every health […]
