North Carolina Grain Dealer Bond Updated

Written by JoAnn Smith on May 26th, 2014. Posted in Agricultural Bonds, Commercial Bonds, Latest News, License and Permit Bonds, North Carolina, Popular States, Surety Bond Blog

     grain dealer bond      
New grain dealer bond requirements in the works
Last year’s passage of North Carolina House Bill 383 saw an increase in the amount of the grain dealer bond that would be required as part of the new agricultural licensing requirements. Now in effect, that bill saw the surety bond requirements that are part of the licensing for grain dealers in North Carolina increase substantially.
With the implementation of this new law, grain dealer bonds will move from the previous $10,000 surety bond to a $100,000 grain dealer bond.

Who Needs a Grain Dealer Bond?

This new bond amount will be required from anyone in North Carolina who owns controls or operates a grain mill, grain elevator or a warehouse connected to the storage of grains. It will also include anyone who owns and operates a truck or tractor-trailer unit or similar that buys, sells or solicits for sale or resale. The bill will also cover those who contract for these services or are involved in the exchange or sales of grain. These changes to the requirements for a surety bond are part of a bill that will make changes to all of the grain dealer licensing laws in North Carolina. Additional changes will include the ability of the Commissioner to refuse to grant a license to anyone who:
  • Has acted or portrayed themselves as a grain dealer in the past without the proper licensing.
  • Has hired someone convicted of involvement in fraud, theft or misrepresentation regarding buying or selling of grain.

Finding Your Grain Dealer Bond

Finding an insurance company that handles this large an agricultural dealer bond would be difficult, but BuySurety can supply these and other agricultural dealer bonds easily. They can apply online and even probably be notified the same day that they are approved for the grain dealer bond they need. When your business needs a surety bond because of changes in the requirements, new business ventures or any other situation, be sure to contact BuySurety. We have been supplying surety bonds, including grain dealer bonds for agriculture for over two decades across the nation. Find out just how easy it is to get bonded with BuySurety today.

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Pennsylvania Surety Bond Requirements – New Laws

Written by JoAnn Smith on May 12th, 2014. Posted in Bond Types, Commercial Bonds, Contractor License Bonds, Court Bonds, Latest News, License and Permit Bonds, Pennsylvania, Performance Bonds, Popular States, Surety Bond Blog

     Pennsylvania surety bond requirements
New Pennsylvania surety bond requirements ensure kids attend school.
State legislature has passed a handful of new Pennsylvania surety bond requirements this year that will affect the parents of children who don’t send them to school, the amount of surety a medical plan organization must post and what kind of surety bond must be posted for a company to obtain a permit to demolish a building. While these may all seem like wide ranging regulations, the new Pennsylvania surety bond requirements are simply a part of a new wave of legislature that will see stricter laws in many areas for surety bonds.

Compulsory School Attendance in Pennsylvania

Although the Public School Code Act of 1949 is still very much in force that requires parents to send their children to school, this latest piece of legislature, Pennsylvania House Bill 1786, will add penalties for any parent that refuses to send their children to school. Unless a parent or legal guardian can produce evidence that they took all proper precautions to ensure the child under 13 years of age went to school, the parent can be fined. If the parent wished to appeal the decision, they can post a performance bond that assures the court they will guarantee the child will attend school.

Discount Medical Plans and Penalties

A bill is currently with Pennsylvania Legislature that will allow discount medical plans to be registered with the state. Pennsylvania House Bill 1851 will also create penalties for any such companies and require these companies to post a guarantee in the form of a surety bond of $35,000 to protect the financial interests of the members of the plan. The Pennsylvania surety bond requirements bill was introduced in November of 2013 and as of May 2014 was under consideration of the House Insurance Committee.

Pennsylvania Surety Bond Requirements for House Demolitions

With the passage of Pennsylvania House Bill 1877, the state will have established new requirements for any company that wishes to engage in house or building demolitions in the state of Pennsylvania. These businesses will now be required to obtain a permit before beginning any demolition projects and part of that permit will be obtaining a performance surety bond for the cost of the demolition project. For this, Pennsylvania surety bond requirements will need to be a minimum of $25,000.

Know Your Surety Bond Requirements

If you do business in Pennsylvania, or any other state, you need to know first what the surety bond requirements are for that business. State legislatures are continuously making changes to surety bond state requirements for various businesses. That is why it is so important to do your research first and find out what those requirements are for your state and business. If you are considering starting up a new business, changing the scope of your current business or expanding a current business into a new geographical location, contact BuySurety first. We can help you find out just what kind of surety bond requirements that business has for that state. Don’t get caught without the right surety bond coverage when making changes to your business. Talk to the knowledgeable customer service people at BuySurety first and get the right information to keep your company up to date, whether it is for Pennsylvania surety bond requirements or new laws for auto dealerships.

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