Individual Surety Legislation defeated in Virginia and Maryland

Category: Uncategorized
Published: Feb 3, 2009
Despite collaborative efforts by The Surety & Fidelity Association of America (SFAA), The National Association of Surety Bond Producers (NASBP), and AIA Surety, individual surety legislation was defeated in both the states of Virginia and Maryland.

In Virginia, SFAA, NASBP and AIA worked to notify the opponents of the legislation they had gained in the previous year that there was new individual surety legislation in Virginia. This was introduced as Virginia House Bill (HB) 187. Unfortunately their efforts did not have the intended effect, as the bill failed to get out of the committee due to strong opposition.

In Maryland, House Bill (HB) 312 was also unable to make it past the committee. If passed, HB 312 would have successfully eliminated a sunset provision for Sep 30, 2009, on the state.

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