Lance Surety Bond Associates, Inc.

HB 247: License Bond – Radon Mitigation Professionals

Under this bill radon mitigation professionals and radon measurement professionals will be regulated. These professionals will have to be certified and be able to post a $10,000 License and Permit Surety Bond. This bond will be conditioned on compliance with the proposed law and any rules adopted to implement it. In order for this bond to be in compliance it will have to be issued by a corporate surety that is authorized to transact surety business within the Commonwealth. The surety’s liability with the principal will be limited to the penal sum of the bond, and the bill provides for cancellation by the surety with advance written notice. The SFAA was contacted during the drafting of this bill and assisted in writing it.

SB 87/HB 159: License Bond – Currency Exchanges

This will increase the amount of the license bond for community currency exchanges from 10K to 50K. This provides services for cashing checks, drafts, money orders or any other acceptable evidences of money. The Director of Financial Institutions is permitted to require a larger bond amount. This cannot exceed the exchanges outstanding liabilities. This bond secures any liability the exchange inherited on any money orders, and for any sums due for unpaid checks, draft or money orders left with the exchange for collection, and for any liability incurred in connection with the services permitted under current law. This new bill will clarify this to include the payment of any penalties and fees incurred by the remitter in the case that a money order is returned unpaid. Under current law an exchange is permitted to provide a blanket bond for all licensees belonging to a statewide association of exchanges. This bill will increase the required amount of the blanket bond from $2 million to $10 million.

As of July 1, 2009, HB 1359 established an increase in the license bond amount required for all exterminators of termites and structural pests operating in the state of Arkansas. The license bond amount doubled from $50,000 to $100,000. However, HB 1350 did not increase the surety bond amount required for Arkansas

Enacted on May 13, 2009, Alabama House Bill (HB) 184 increased the bond amount that can be required by the State Board of Heating and Air Conditioning Contractors of certified heating and air conditioning contractors in the state. The amount that the State Board can require went up from $10,000 to $15,000.

HB 184 subjects all active heating and air conditioning contractors to this surety bond (license bond) requirement, to include refrigeration contractors.

On 9 October 2008, Pennsylvania Governor Ed Rendell signed 10 bills into law, one of which, Senate Bill 1019, pertained to Pennsylvania Recreational Vehicle (RV) Dealers.

The two major takeaways from SB 1019 are as follows:

1. Any person who wishes to act as an RV dealer in the state of PA is required to purchase/post a $30,000 license bond (a type of commercial surety bond). This is obviously only required of RV dealers that have not already posted a license bond with the Pennsylvania Department of Transportation (PennDOT). The license bond is required by RV dealers to ensure they comply with all the pertinent laws and regulations in the state.
2. SB 1019 (PA) also gives the Pennsylvania State Board of Vehicles the authority necessary to discipline out-of-state RV dealers that choose to violate Pennsylvania law.