Lance Surety Bond Associates, Inc.

Arkansas Mortgage Brokers and Mortgage Lenders have a minimum surety bond requirement of $100,000. The specific bond amount for each company/individual will be set by the state’s regulations.

Alabama has passed a new bill requiring proprietary schools to acquire a $20,000 surety bond. This school bond is to ensure the students will receive the instruction that they had paid tuition for. This bill was enacted on August 1, 2009.  To apply for this type of surety bond, visit our online application.

Mortgage Lenders and servicers in the state of California have a minimum surety bond amount of $50,000, while a minimum bond amount of $25,000 is in place for finance lenders and brokers. Also, based on the amount of loans originated, the state may increase the bond amount accordingly.

HVAC Contractors in Alabama have a new surety bond amount of $15,000 that may be required by the State Board of Heating and Air Conditioning Contractors. This used to be a $10,000 contractor license bond requirement, but was increased on August 1, 2009 with House Bill 184. Refrigeration contractors as well as “active” HVAC contractors have this bond requirement.