Effective as of November 21, 2009, a surety bond is now required for consumer lenders in the state of Alabama. The surety bond is needed if the lender does not meet net worth requirements of the state. The State Banking Department will determine the actual bond amount, so be sure to check with the state for more specific details and requirements.
New surety bond requirement for Alabama Consumer Lenders
February 23, 2011Discuss: Comments (0)
Category: Commercial Bonds, Miscellaneous Commercial Bond
Tags: Alabama, Consumer Lenders
License Bonds for Alabama
January 21, 2010Similar to my recent post about SB 232 (Mortgage Broker Bonds), Alabama SB 234 created a new surety bond requirement for the state
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Category: Commercial Bonds, License Bond, Surety & Construction News
Tags: Alabama, Consumer Lenders, license bonds, State Banking Department
