Illinois Public Official Bonds

Category: Uncategorized
Published: Aug 28, 2011
HB 239: Public Officials

This will allow for the State Treasurer to establish and administer a Home Savings Pool for first time home buyers. The State Treasurer would be authorized to receive endorsements paid into the Pool by a participant and could serve as the fiscal agent of the participant to hold and invest the Pool’s funds. The State Treasurer will be required to post a one million dollar bond to secure the faithful performance of his or her duties in connection with the Pool.

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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.