Texas Food Program Surety Bonds

Category: Uncategorized
Published: Feb 25, 2012
SB 77: Miscellaneous Bond – Food Programs

A surety bond might need to be posted by food program sponsoring organizations. This would be in order to participate in a child and adult day care food program. These organizations are private non-profit that administer a food program in a child or adult day care home or center. The programs are federal programs which are administered by the states. The bond would have to be posted to the Texas Health and Human Services Commission where they would determine the amount and rules. Under existing federal regulations and law permit the states to require a bond from sponsoring organizations in connection with the program. The bond must be from a surety company listed in the U.S. Department of Treasury’s Circular 570. That is in accordance with the federal regulations concerning this program.

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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.