Alabama Proprietary School Bond

Category: Uncategorized
Published: Jan 20, 2010
The following surety bond requirement is outlined in Alabama HB 428.

As of August 1, 2009, all proprietary schools in the state of Alabama are required by law to post a surety bond in the amount of $20,000. This commercial bond is conditioned on any payments required when a student paid tuition and or fees to the proprietary school, but did not receive the level of instruction or quality of teaching that they paid for. Such damages would only be paid if a court determines such allegations to be truthful.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.

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