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.

The following two tabs change content below.