County Official Bonds throughout Alabama
Enacted on May 22, 2009, Alabama SB 111 mandated a couple of changes to the surety bond requirements for public officials in every county. Under the new law, any county employee or official that the county commission designates will be required to obtain a surety bond. County commissions can mandate that any director or member of a public board must post a surety bond in order to guarantee that they faithfully carry out the duties of their office, or assigned position. In the past, these surety bonds were made payable to the state of Alabama, but now they are payable to county treasuries. Specific bond amounts will be determined by the respective county commissions.
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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.