Public Official Bonds for Hawaii Shipboard Gaming

Category: Uncategorized
Published: Jul 21, 2011
SB 1528/HB 1651: Public Officials & License Bonds – Shipboard Gaming

This Senate and House Bill will allow for casino games to be played on board ships. Through this bill the Hawaii Gaming Board will be created to oversee the gaming operations. Each board member will be required to post a surety bond in the amount of $25,000 to secure the faithful performance of their duties. A license will be required as well to operate and maintain a gaming ship. The owner will be required to obtain the license as well as a $200,000 license bond to secure that the licensee will faithfully make the payments, keep records, reports and conduct games of chance in compliance with the applicable laws and regulations. The surety’s aggregate liability would be limited to the amount specified in the bond.

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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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