Louisiana Auto Title Company Bond Increase
Any person owning an auto title company in Louisiana will be required to post a $100,000 bond if they have one location in the state and a $125,000 bond if they have more than one location…
Alaska Mandates Bond for Oil and Gas Companies
Alaska Governor Bill Walker signed House Bill 247 in June, requiring oil and gas companies that are conducting exploration, development or production in the state to post a $250,000 surety bond. The bill places a cap on tax credits offered…
Bond Increase for South Carolina Pawnbrokers
South Carolina pawnbrokers will need to post a $15,000 surety bond following the passage of House Bill 4090. Previously, pawnbrokers were required to post a $5,000 surety bond. The change became effective on June 9, 2016, the day the…
Coal Industry Decline Fuels Self-Bonding Concerns
As several U.S.-based coal companies face declining stock prices, bankruptcies and the lowest production rates since the 1980s, their ability to honor self-bonding obligations has been called into question. There are nearly $4 billion in outstanding self-bonding obligations among…
South Carolina Money Transmitters Now Need Bond
South Carolina recently became the 49th state to regulate money transmitters, leaving Montana the only state that has yet to do so. The Anti-Money Laundering Act will take effect one year after its June 9, 2016 passage,…