Fidelity Bond for New Jersey Exchange Facilitators

Category: Uncategorized
Published: Sep 13, 2011
AB 3438: License Bond – Exchange Facilitators

Under this bill exchange facilitators will be regulated. These are people who facilitate like kind exchanges or property that is pursuant to federal tax law. This new bill would require facilitators to be licensed and to obtain a fidelity bond that would be in the amount no less than $1 million. Another option would be to post cash or a letter of credit in an equal amount.

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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.