Credit Plan Lenders Bond for Virginia

Category: Uncategorized
Published: Mar 16, 2012
SB 250: License Bond – Open-End Credit Plan Lenders

This bill will require open-end credit plan lenders to be licensed and to post a $10,000 surety bond for each location. These combined cannot exceed $50,000, and the bond will be conditioned on the licensee’s performance of all written agreements with borrowers or prospective borrowers. This must also be correctly and accurately accounting for all funds received in the course of his or her business and conducting his or her business in compliance with all applicable laws. The surety’s aggregate liability will be limited to the penal sum on the bond and the bill will amend actions on the bond as well.

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Robin Kix

Robin Kix is currently the Renewal Department Manager. Since joining Lance Surety in 2014, she has helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.

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