Permit Bond Legislature Protects Shoreline and Hearing

Written by JoAnn Smith on March 31st, 2014. Posted in Bond Types, Hawaii, Latest News, Legislation, License and Permit Bonds, Surety Bond Blog, Washington

     permit bond legislature, permit bonds      
Hawaii shorelines need permit bond legislature protection
Permit bond legislature in Hawaii and Washington State is under consideration for two bills that protect taxpayers in very different ways. One of the bills will go a long ways towards helping people in Washington be assured that the hearing aide specialist they see is qualified to fit them correctly for their hearing aids.
 
Meanwhile, in Hawaii those taxpayers that love and enjoy the shoreline will be happy to know that they may well see an increased requirement for anyone who wants a permit for changes made along the shoreline that includes grading or removal of materials.

Washington Permit Bond Legislature

The Pacific Northwest state is considering legislature with House Bill 2108 that will create some new requirements for trainees interested in becoming a hearing aid specialist. Washington expects to have an increase in the senior population and those seniors prone to having a longer life. The result is that hearing aid specialists are being seen as a growth industry that will probably struggle to find enough qualified specialists to fill the need. Because of the growth of apprenticeships in the industry, Washington State is looking at permit bond legislature that will require apprentices to post a permit bond for a minimum of $10,000 as part of their licensing process to become an apprentice hearing aid specialist. The apprentices will be subject to all of the current laws regarding anyone who specializes in fitting and dispensing hearing aids.

Shoreline Protection in Hawaii with Permit Bond Legislature

Everyone knows that the shoreline of Hawaii is one of their biggest treasures; bringing in thousands of tourists each year. However, along with that natural beauty is the need to protect it when developers come along who want to change it in order to make it more accessible. As part of that change, many will seek permits to “grade and grub”, a process that removes trees and other vegetation and debris in order to create a level grade for seawalls and other structures when building near that shoreline. With the passage of House Bill 1537, a permit will be required to do this kind of work along any Hawaiian shoreline. This legislature will also require a permit bond, the amount to be determined at a later date.

Getting the Right Permit Bonds

As you can see from these two bills, permit bonds are becoming a popular way for state governments to create a certain level of control over the development of both human resources and physical infrastructure. This is why we are seeing an increase in the requirement of permit bonds for many types of business. If your industry is seeing changes in the form of new permit bond legislature, don’t get caught unprepared. Our fast and friendly customer service representatives can help you find the right kind of surety bonds, from permit bonds as part of that permit requirement to bid bonds to help you get the right project on time. BuySurety has been providing a wide array of businesses with the surety bonds they need to compete successfully for over two decades. Find out how quickly we can get you bonded at BuySurety today.

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Alaska and Hawaii Auto Dealer Bonds

Written by JoAnn Smith on December 26th, 2013. Posted in Alaska, Bond Types, Commercial Bonds, Hawaii, License and Permit Bonds, Motor Vehicle Bonds, States, Surety Bond Blog

     Alaska auto dealer bonds, Hawaii auto dealer bonds
Alaska and Hawaii are part of the US too!
Alaska and Hawaii are two states with some very specific driving conditions. Outside of the obvious fact that neither of them are within the 48 states in the main part of the country, they also have some obstacles for auto dealers that go beyond the basic auto dealer bond requirements. For Alaska it may be because they have few roads and most of these in remote areas. Hawaii, with its tropical weather, faces other obstacles. Between the two, it isn’t surprising to find out that road conditions probably drive the popularity of four-wheel vehicles in both states. Whether it is getting stuck in the mud of a Hawaiian side road through a tropical forest or finding your vehicle is sliding on a sheet of frozen roadway in tundra territory, an ordinary car just won’t cut it here.  None the less, their requirements differ substantially when it comes to what surety bonds are a part of the licensing requirements for an auto dealership in Alaska or Hawaii.

Alaska Auto Dealer Bonds Requirements

Anyone who is considering starting up an auto dealership in Alaska will need to have their surety bond requirements fulfilled before submitting their paperwork to the DMV. In fact, for a new or used vehicle dealership the dealer or buyer’s agent will need to submit an original and notarized $50,000 auto dealer bond. If the dealership will only be selling motorcycles the bond requirement is only $25,000 but will still need to be original and notarized.

Requirements for Hawaii Auto Dealer Bonds

In Hawaii the auto dealer bond requirements are governed by what is sold in the vehicle dealership. It breaks down into new vehicles, used vehicles and whether the dealership is selling motorcycles or scooters. Just as we have seen in several other states, the auto dealer bond requirements for Hawaii also are broken down by how many vehicles are sold each year. New Motor Vehicle Sales-
  • $200,000 New Motor Vehicle Dealer Bond – When selling 10 or more units
  • $50,000 New Motor Vehicle Dealer Bond – When selling less than 10 units
Used Motor Vehicle Sales-
  • $100,000 Used Motor Vehicle Dealer Bond – When selling 60 or more units
  • $25,000 Used Motor Vehicle Dealer Bond – When selling less than 60 units
Motorcycle or Motor Scooter Sales-

Auto Dealer Bonds Delivered Fast and Easy

Whether you are planning to open an auto dealership, a motorcycle dealership or simply sell a dozen or so used vehicles in the next year, you will need to be sure your auto dealer bonds are in place first. That is when it is handy to have a surety bond provider that can walk you through the process and get you the best possible price. BuySurety has been providing auto dealer bonds to the automotive retail and wholesale industry since 1998. We know the business, keep track of the changes and can provide thorough customer support. Why take chances with your business? Get your auto dealer bonds fast and at a great price today with BuySurety.

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Commercial Surety Bond Legislature for Debt Management Services

Written by JoAnn Smith on November 26th, 2013. Posted in Commercial Bonds, Finance Bonds, Hawaii, Latest News, Legislation, License and Permit Bonds, Lousiana, Massachusetts, New York, Pennsylvania, Surety Bond Blog, Washington

Debt Management Services
Recent surety bond legislature for debt management service companies has been sweeping through several states. With the increased regulation of all banking services, it isn’t surprising that many states are looking more closely at this sub-set of the financial industry with a bit more scrutiny. Massachusetts and Pennsylvania have both passed new regulations regarding these services and a few other states have had similar bills defeated that will probably circle back around soon for another attempt at further regulation. For a closer look at all the changes regarding these industries, here are the details:

Massachusetts Surety Bond Changes

After sitting in the House for several months, House Bill 875 has finally been sent to the Senate Ways and Means committee as H3569. It looks likely to pass and will require all debt management service companies to post a surety bond as part of their licensing requirements. The amount of the bond will be determined at the time by the Commissioner of Banks.

Pennsylvania Debt Settlement Service Providers Bonding

In a bill that will see the posted bond run to the Commonwealth for its benefits, Pennsylvania has decided on a $25,000 credit services bond requirement. This will be part of the new licensing requirements for debt settlement service providers and will also oblige that the bond run for the length of the license. An additional $25,000 penal bond will also be required as part of the licensing procedure.

Growing Movement toward Surety Bonds

Although they were defeated in legislature, there were bills for the requirement of licensing and the posting of surety bonds for all debt management service providers in Hawaii, Louisiana, New York and Washington. This marks a definite trend towards the institution of surety bonds as a licensing requirement in this industry in the coming years.

Find All Your Surety Bonds Here

Many businesses that serve non-traditionally in the financial sector may find they will suddenly be required to post a surety bond in the coming years. If your business is considering the move to posting a surety bond as part of their licensing requirements, don’t get caught without them. We can supply any kind of surety bond for any industry in all fifty states. Contact our offices or visit our BuySurety website and find out just how easy it is to get the surety bond your industry requires, regardless of your credit rating or years in the industry.

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Texas and Hawaii Fidelity Bond Legislature

Written by JoAnn Smith on March 22nd, 2013. Posted in Hawaii, Indemnity Bonds, Legislation, Surety Bond Blog, Texas

     surety bonds for poker gaming
Poker Gaming in Texas
March 22, 2013 – There were a number of legislative actions in the Texas and Hawaii legislature in the early part of 2013 that impacted the use of surety bonds, particularly when it comes to fidelity bonds. They involved bonding requirements for poker game operators, dental service employees and when making escrow deposits. All of these bills are currently in process in their respective legislature as of the writing of this legislative summary.

Texas Fidelity Bond Legislature

 

Texas House Bill 292 – Poker Gaming Operators

The passage of Texas House Bill 292 will require all poker gaming operators to be licensed by the state. As part of that license the operators will be required to post a surety bond as security for payment of gross receipt taxes. In addition, any employee of a poker gaming operator that handles cash will be required to post a fidelity bond. The bill was introduced in December of 2012 and was referred to the Licensing and Administrative Procedures Committee for review February 11, 2013. For a complete reading of Texas House Bill 292 as it currently stands please follow the link provided in this legislative summary.  

Hawaii Fidelity Bond Legislature

 

Hawaii House Bill 836 / Senate Bill 1067 – Escrow Depositories

Several changes have been made regarding escrow deposits. The net capital requirement for escrow depositories will now be $100,000 and a bond can no longer be posted in lieu of meeting this requirement. In addition, the fidelity bond required for escrow deposits will increase to $100,000 with a deductible threshold for prior approval of $10,000. Cash or securities can no longer be posted in place of this fidelity bond, but a security device may be provided. As of February 13, 2013 the House Bill is with the CPC Committee and it is recommended that the measure be deferred. The Senate version of the bill is also in committee and that committee has recommended it be passed with amendments as of February 13, 2013. To read a complete text to Hawaii House Bill 836 as it now stands please use the link provided in this summary.    

Hawaii House Bill 842 / Senate Bill 1073 – Dental Service Employees

Both Hawaii House Bill 842 and Senate Bill 1073 will create a requirement that all dental service corporations post a fidelity bond on any employees, officers, directors or partners that are involved in the collection, disbursement, investment or receiving of funds for the organization. A minimum amount of $250,000 will be required for each separate dental service corporation or if multiple corporations are owned by a common parent a maximum $5 million bond can be held in aggregate. The Insurance Commissioner can also prescribe a set amount. In addition, a security deposit in the form of cash, securities or an acceptable instrument for $300,000 will be deposited with the Insurance Commissioner. This deposit can also be in the form of a surety bond with an official in the corporation’s “state of domicile” and that amount would be reduced. Hawaii House Bill 842 was introduced into the House on January 24, 2013, passed its first reading and went into committee where it was recommended for passage on February 13, 2013. It will then proceed to the Senate for passage. For a complete reading of Hawaii House Bill 842 please follow the link provided to you in this summary.  

Hawaii House Bill 1459 – Public Officials

Hawaii House Bill 1459 if passed would create the Hawaii Employer-Union Health Benefits Captive Insurance Fund. The Fund’s Board of Trustees would be required to obtain a fidelity bond of a “reasonable amount for the board’s chairperson and any other person authorized to handle fund moneys.” House Bill 1459 was introduced to the House on January 24, 2013, brought to the committees on LAB and CPC which both recommended passing with amendments. To read the entire Hawaii House Bill 1459 as it now stands, please follow our link in this legislative summary of the bill.

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Hawaii HB2265 HD1 Maintains Performance Bond Requirement

Written by Surety Bond Expert on February 8th, 2012. Posted in Hawaii, Surety Bond Blog

Hawaii Performance BondThe State of Hawaii recently proposed legislation HB2265 that would make Act 175 amendments to section 103D-305 permanent. These changes raised the qualifying amount for small purchase procedures to $250,000 for construction and $100,000 for goods and services. More importantly for the surety bond professionals serving the Hawaii market, procurements more than $50,000 require performance bonds.

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