New York Pre-paid Calling Services
Pre-paid calling services would be regulated under this bill requiring such providers of this service to post a surety bond or other security in the amount of $50,000. They must also obtain a certificate to operate in the state with this bond requirement. Distributors of prepaid calling cars must also post a surety bond. The bond must be in the amount of at least $10,000. Sales exceeding $50,000 by the distributors are then required to post a bond in the amount of $25,000.
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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.
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