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H 179/S 231 – Motor Vehicles-Certificates of Title. Would revise the amount of the bond required to obtain a certificate of title, which is currently 1.5 times the value of the vehicle; provides that the Department of Revenue would determine the bond amount. Status: 1/12/10 – In House; introduced and referred to Government Operations
S 70 – Barber Schools. Would require barber schools to be licensed and post a $10,000 surety bond. Status: 1/12/10 – In Senate; introduced and referred to Tourism and Marketing
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| 2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 2310 – Performance and Payment Bonds. Would make provisions in construction contracts void against public policy to the extent that they require the indemnification of another party for the indemnitee's own negligence; provides that this would not apply to agreements for the indemnification of a surety on a payment or performance bond by its principal or indemnitors. Status: 1/19/10 – In House; referred to Commerce, Judiciary, and Rules Committees
S 1177 – Cemetery Salespersons and Brokers. Would appear to repeal the bond requirement for cemetery salespersons and brokers. Current law requires a bond ($100,000 maximum) from such persons if they have committed violations of the law, been convicted of a felony or misdemeanor for fraud or any conviction involving real estate transactions, or if they had an administrative order entered against them. Status: 1/20/10 – Introduced |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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| H 1018 – Waste Tire Facilities. Would impose financial responsibility requirements for closure and reclamation of waste tire facilities. Status: 1/13/10 – In House; introduced and referred to Transportation and Energy
H 1062 – Crime Insurance in Lieu of Bonds. Would permit various county public officials (county officers, commissioners, clerks and recorders, sheriffs, coroners, treasurers, assessors, and surveyors) to purchase crime insurance in lieu of the surety bond required under current law. Status: 1/21/10 – In House; Local Government referred amended bill to House Committee of the Whole. 1/26/10 – Second reading; laid over daily
H 1125 – Waste Grease Handling. Would require persons, facilities, and vehicles engaged in the collection, transportation, storage, processing, or disposal of grease to be registered and post a surety bond or other debt instrument or method of financial assurance. Status: 1/15/10 – In House; introduced and referred to Transportation and Energy
H 1162 – Retainage-Private Contracts. Would permit and regulate the use of retainage in private contracts; provides that not more than 5% of the progress payments could be withheld until the project reaches 50% completion in a private construction agreement. After a project reaches 50% completion, 2.5% retainage would be withheld. Retainage would be released when the project reaches substantial completion or when it's certified for occupancy. Status: 1/20/10 – In House; introduced and referred to Business Affairs and Labor |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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| 2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 311/S 938 – Debt Settlement Services. Would require debt settlement service providers to be licensed and obtain an insurance policy or post a surety bond of at least $10,000; would authorize the OFR to increase the bond amount based on certain conditions of the licensee's business; however, not more than $50,000. Status: 11/20/09 – In House; referred to Insurance, Business and Financial Affairs Policy
S 938/H311 – Debt Settlement Services. Would require debt settlement service providers to be licensed and obtain an insurance policy or post a surety bond of at least $10,000; would authorize the OFR to increase the bond amount based on certain conditions of the licensee's business; however, not more than $50,000. Status: 1/14/10 – In Senate; referred to Banking and Insurance, Judiciary, Governmental Oversight and Accountability, and General Government Appropriations |
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H 989 – State Employees’ Health Insurance Plan. Would permit the Board of Community Health to contract with municipalities to include municipal employees in health plans offered by the state to its employees. The bill would direct the Board to require any entity with which it contracts under the bill's provisions to post a surety bond to guarantee the faithful performance of the contract. Status: 1/26/10 – Introduced
S 310 – Pharmacy Benefit Managers. Would require pharmacy benefit managers to be licensed and post a $100,000 surety bond. A minimum $250,000 errors and omissions insurance policy or “other appropriate liability insurance” also would be required. Status: 1/14/10 – In Senate; referred to Insurance and Labor
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H 2021/S 2200 – Hotel or Resort Development. Would require a bond in connection with a development agreement for a hotel or resort. The bond would secure the full and faithful performance of the agreement. Status: 1/20/10 – In House; introduced and referred to Water, Land and Ocean Resources; additionally referred to Tourism, Culture and International Affairs
H 2278/S 2603 – Mortgage Loan Origination. Would replace the current mortgage loan originator license bond requirements enacted in 2009 with a recovery fund. Status: 1/22/10 – To House Committee on Consumer Protection and Commerce; additionally referred to Judiciary
H 2336/S 2011 – Professional Employer Organizations (PEOs). Would require PEOs to maintain a positive working capital of not less than $100,000. A negative working capital would require the posting of a bond, letter of credit, cash or securities in an amount that would make up the deficiency. The bond would secure the payment of any tax, wage, benefit, or other entitlement. Status: 1/22/10 – To House Committee on Labor and Public Employment; additionally referred to Economic Revitalization, Business and Military Affairs
H 2506 – Public Procurement Code - Threshold. Would increase the threshold at which bonds are required for public construction contracts from $25,000 to $50,000. Status: 1/27/10 – In House Committee on Economic Revitalization, Business and Military Affairs
H 2544/S 2697 – Managing General Agents. Would require an insurer's managing general agent to post a surety bond in an amount equal to $100,000 or 10% of the agent's total annual premiums written nationwide for the insurer in the previous calendar year, whichever would be greater, but not to exceed $500,000. A $1,000,000 errors and omissions policy is also required. Status: 1/27/10 – In House Committee on Consumer Protection and Commerce; additionally referred to Judiciary
S 2011/H 2336 – Professional Employer Organizations (PEOs). Would require PEOs to maintain a positive working capital of not less than $100,000. A negative working capital would require the posting of a bond, letter of credit, cash or securities in an amount that would make up the deficiency. The bond would secure the payment of any tax, wage, benefit, or other entitlement. Status: 1/20/10 – In Senate; referred to Commerce and Consumer Protection, and Labor
S 2200/H 2021 – Hotel or Resort Development. Would require a bond in connection with a development agreement for a hotel or resort. The bond would secure the full and faithful performance of the agreement. Status: 1/21/10 – In Senate; passed first reading, referred to Water and Land and Ways and Means
S 2603/H 2278 – Mortgage Loan Origination. Would replace the current mortgage loan originator license bond requirements enacted in 2009 with a recovery fund. Status: 1/27/10 – To Senate Committee on Commerce and Consumer Protection
S 2697/H 2544 – Managing General Agents. Would require an insurer's managing general agent to post a surety bond in an amount equal to $100,000 or 10% of the agent's total annual premiums written nationwide for the insurer in the previous calendar year, whichever would be greater, but not to exceed $500,000. A $1,000,000 errors and omissions policy is also required. Status: 1/27/10 – To Senate Committee on Commerce and Consumer Protection |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 4682 – Debt Management. Would amend the Debt Management Service Act; would require debt relief service providers to post a $25,000 bond, and debt settlement service providers to post a $75,000 bond, or such additional amount as required by the director based on the amount of disbursements made by the licensee in the previous year. Status: 1/4/10 – In House; referred to Rules
H 4781 – Debt Settlement Providers. Would require debt settlement providers to be licensed and post a bond in an amount of at least $1,000,000. Status: 1/27/10 – In House; referred to Consumer Protection
S 2621 – Public-Private Transportation Act. Would authorize the state and its political subdivisions to enter into public-private partnerships (PPP) for the construction of transportation facilities; provides that the PPP agreement would have to provide for performance and payment bonds for the development and/or operation of the facility in an amount that the public entity determined to be satisfactory. Status: 1/21/10 – In Senate; introduced and referred to Assignments |
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H 1035 – Farm Winery Permit Holders. Would provide for an exemption from the direct wine seller permit requirement for those holding both a farm winery permit and a partial ownership interest in a wine wholesaler permit, and for those holding supplemental direct wine seller's permit. This would include an exemption from the $1,000 surety bond (or cash) requirement. Status: 1/5/10 – In House; introduced and referred to Public Policy
H 1166 – Professional Employer Organizations (PEOs). Would require PEOs to maintain a positive working capital. A negative working capital would require the posting of a bond, letter of credit, cash or securities in an amount sufficient to cover the deficit, plus $100,000. Status: 1/7/10 – In House; introduced and referred to Rules and Legislative Procedures
H 1226/S 414 – Medicaid Providers. Would require Medicaid providers to submit a $50,000 surety bond along with their Medicaid provider agreements when they enroll, renew or purchase or transfer ownership. An additional $50,000 bond would be required for each adverse judgment or final order related to Medicaid provider services within the 10 years preceding enrollment, renewal, or the purchase or transfer of ownership. Status: 1/11/10 – In House; introduced and referred to Public Health
H 1247/S 176 – Tobacco Manufacturers. Would require "nonparticipating tobacco manufacturers" to post a bond in the amount of $50,000, or the amount the manufacturer would be required to deposit due to its previous calendar year's sales in Indiana, whichever is greater, in order to be listed in the State's directory of tobacco manufacturers and cigarette brands. Status: 1/12/10 – In House; introduced and referred to Public Policy
S 176/H 1247 – Tobacco Manufacturers. Would require "nonparticipating tobacco manufacturers" to post a bond in the amount of $50,000, or the amount the manufacturer would be required to deposit due to its previous calendar year's sales in Indiana, whichever is greater, in order to be listed in the State's directory of tobacco manufacturers and cigarette brands. Status: 1/11/10 – In Senate; referred to Commerce, Public Policy and Interstate Cooperation
S 328 – Various Financial Institution Matters. Would make various changes to the laws concerning: (1) financial institutions; (2) debt management companies; (3) pawnbrokers; (4) money transmitters; (5) check cashers; (6) persons licensed under the Uniform Consumer Credit Code; (7) first lien mortgage lenders; and (8) rental purchase agreements. Status: 1/11/10 – In Senate; introduced and referred to Insurance and Financial Institutions
S 414/H 1226 – Medicaid Providers. Would require Medicaid providers to submit a $50,000 surety bond along with their Medicaid provider agreements when they enroll, renew or purchase or transfer ownership. An additional $50,000 bond would be required for each adverse judgment or final order related to Medicaid provider services within the 10 years preceding enrollment, renewal, or the purchase or transfer of ownership. Status: 1/14/10 – In Senate; referred to Health and Provider Services
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HSB 359/SSB 3076 – Mechanics’ Liens. Would revise existing law concerning bonds for the discharge of mechanics’ liens by eliminating the specifications for who can post the bond. Current law provides that the owner, principal contractor, or intermediate subcontractor can post the bond. Status: 1/14/10 – Introduced in House
HSB 629/SSB 3155 – Real Estate Closing Agents. Would require real estate closing agents to be licensed and post a $250,000 surety bond. A $250,000 errors and omissions policy is also required. Status: 1/26/10 – Introduced in House; referred to Commerce
SSB 3155/HSB 629 – Real Estate Closing Agents. Would require real estate closing agents to be licensed and post a $250,000 surety bond. A $250,000 errors and omissions policy is also required. Status: 1/26/10 – Introduced in Senate; referred to Commerce |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 166 – Debt Adjusters. Would require debt adjusters to post a $25,000 bond for the benefit of any person suffering an injury or loss resulting from a violation of the law; would require the bond to remain in effect for two years after the debt adjuster ceases doing business. Status: 1/5/10 – In House; introduced and referred to Banking and Insurance
H 233 – Public Adjusters. Would require public adjusters to post a surety bond or an irrevocable letter of credit in a minimum amount of $20,000. The bond would be for the benefit of any person sustaining damage as a result of erroneous acts, failure to act, conviction of fraud, or conviction of unfair trade practices. Status: 1/11/10 – Introduced
H 264 – Financial Institutions. Would change the depository bond requirements for depositories of local boards of education in the Commonwealth. Status: 1/19/10 – In House; referred to Banking and Insurance
H 317 – Retainage in Construction Contracts. Would revise the current retainage requirements for public works projects; not more than 5% of the progress payments could be withheld throughout the course of the project. Status: 1/26/10 – In House; referred to Licensing and Occupations
S 66 – Real Estate Appraisal Management Companies. Would require real estate appraisal management companies to be registered and to post a surety bond to secure the faithful performance of duties. The bond amount would be determined by regulations, but could not exceed $500,000. Status: 1/6/10 – In Senate; referred to Licensing, Occupations and Administrative Regulations |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 1149 – Service Contract Providers. Would require providers to maintain a funded reserve account and a financial security deposit (bond) in an amount of not less than $25,000. Status: 1/6/10 – In House; introduced and referred to Joint Committee on Insurance and Financial Services |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 4367 – Various Tax Bonds. Would require various licensees to file a bond in such amount as the commissioner may determine to secure the payment of any tax, including any interest or penalty thereon, due or which may become due; provided, however, that the bond amount shall not exceed the amount of the vendor's tax liability for a six-month period or $1,000,000. Status: 11/23/09 – In House; reported favorably by Joint Committee on Revenue and referred to House Ways and Means |
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H 5772 – Pharmacy Benefit Managers. Would regulate pharmacy benefit managers and require them to obtain a fidelity bond in an amount equal to 10% of the funds handled annually. Status: 1/27/10 – In House; introduced and referred to Health Policy |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 763/S 2800 – Lien Laws. Would permit rental and lease equipment dealers to file lien claims on construction projects; payment bonds would be extended to provide protection to these dealers. Status: 1/13/10 – In House; referred to Judiciary B
H 945 – Contractors, Remodelers and Rebuilders. Would provide for the licensing and regulation of residential builders and remodelers; would revise certain license requirements. Status: 1/18/10 – Introduced in House; referred to Judiciary B
H 955 – Builders and Contractors. Would create the Home Improvement Guaranty Fund and provide for its administration. Status: 1/18/10 – Introduced in House; referred to Judiciary B
H 1121/S 2652 – Money Transmitters (Sellers of Checks). Would require a bond in the amount of $25,000 or an amount equal to the amount of outstanding money transmissions, and would increase the bond cap from $250,000 to $1,000,000. Status: 1/18/10 – Introduced in House; referred to Banking and Financial Services
H 1161/S 2757 – Small Loan Lenders. Would regulate small loans ($1,000 or less and made at locations other than a financial institution), and require such lenders to be licensed and post a $10,000 surety bond or other security to secure compliance and prompt payment of any judgment which may be recovered against the licensee for violations. Status: 1/18/10 – Introduced in House; referred to Banking and Financial Services
H 1509 – Bonds for Contractors. Would prohibit contractors from obtaining surety bonds for state and municipal contracts from a company or other entity in which the contractor or his or her spouse has a financial interest. Status: 1/18/10 – In House; introduced and referred to Judiciary B
S 2232 – Prepaid Ambulance Service. Would increase the surety bond amount required for subscription programs for prepaid ambulance services from $5,000 per 1,000 subscribers to $20,000 per 1,000 subscribers. Status: 1/6/10 – In Senate; referred to Insurance
S 2584 – Short-Term Lenders. Would require short-term lenders to be licensed and post a $100,000 surety bond ($50,000 bond if the lender is a nonprofit corporation). Loans could not exceed $500 or have a term of more than 31 days. Status: 1/14/10 – Introduced in Senate; referred to Business and Financial Institutions
S 2652/H 1121 – Money Transmitters (Sellers of Checks). Would require a bond in the amount of $25,000 or an amount equal to the amount of outstanding money transmissions, and would increase the bond cap from $250,000 to $1,000,000. Status: 1/14/10 – Introduced in Senate; referred to Business and Financial Institutions
S 2757/H 1161 – Small Loan Lenders. Would regulate small loans ($1,000 or less and made at locations other than a financial institution), and require such lenders to be licensed and post a $10,000 surety bond or other security to secure compliance and prompt payment of any judgment which may be recovered against the licensee for violations. Status: 1/18/10 – Introduced in Senate; referred to Banking and Financial Services
S 2800/H 763 – Lien Laws. Would permit rental and lease equipment dealers to file lien claims on construction projects; payment bonds would be extended to provide protection to these dealers. Status: 1/18/10 – In Senate; introduced and referred to Judiciary, Division A
S 2828 – Wine Distributors. Would require wine distributors to obtain a permit and post a bond in an amount not to exceed $100,000, conditioned on compliance and payment of all taxes due to the state. Status: 1/18/10 – Introduced in Senate; referred to Finance |
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H 1440 – Real Estate Appraisal Management Companies. Would require registrants to file a $250,000 bond to secure the faithful performance of the obligations in connection with the activities of real estate appraising; an irrevocable letter of credit may be filed in lieu of the bond. Status: 1/6/10 – Introduced
H 1636/S 781 – Motor Vehicle Auctions. Would regulate special event motor vehicle auctions that take place over the course of three days; would require licensure and the posting of a $100,000 surety bond or an irrevocable letter of credit. Status: 1/13/10 – Introduced in House
H 1763 – Debt Management Service Providers. Would enact the Uniform Debt Management Services Act; would require debt-management service providers to post a $50,000 bond, which amount could be increased or decreased by the AG based on certain conditions of the licensee. Status: 1/21/10 – Introduced
S 781/H 1636 – Motor Vehicle Auctions. Would regulate special event motor vehicle auctions that take place over the course of three days; would require licensure and the posting of a $100,000 surety bond or an irrevocable letter of credit. Status: 1/19/10 – In Senate; referred to Transportation |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 1519 – Meals and Rentals Tax. Would establish a bond committee that would determine which meals and rentals operators present a risk of nonpayment of the tax and which must post a $5,000 bond. Status: 12/16/09 – To House Commerce and Consumer Affairs
H 1611 – Sales Tax Bond. Would require vendors to post a bond in an amount fixed by the commissioner to secure the payment of any tax, interest, or penalties due, or which may become due. Bonds may be required in situations such as, but not limited to, failure to file returns, failure to make payments with returns at the time required by law, tender by a vendor of checks returned for insufficient funds, failure to pay interest and penalties assessed, etc. Status: 12/16/09 – To House Ways and Means
H 598 – Auctioneers. Would increase the bond requirement for auctioneers from $10,000 to $25,000. Status: 1/6/10 – In Senate Executive Departments and Administration
H 660 – Life Settlement Providers and Producers. Would establish the Life Settlements Act; would require licensees to demonstrate evidence of financial responsibility through either a surety bond or a deposit of cash, certificates of deposit or securities or any combination thereof in the amount of $250,000. Status: 1/6/10 – In House Ways and Means; scheduled for hearing on 1/20/10
S 339 – Mortgage Loan Originators. Would exclude certain governmental and nonprofit entities from certain licensing requirements as mortgage loan originators. Status: 1/6/10 – Introduced in Senate; referred to Commerce, Labor and Consumer Protection |
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A 359 – Foreclosure Consultants. Would regulate foreclosure consultants and require them to post a surety bond in an amount determined by the Director of the Division of Consumer Affairs through regulations. Status: 1/12/10 – Introduced in Assembly; referred to Financial Institutions and Insurance
A 1127 – Charitable Organizations and Independent Fundraisers. Would expand current law to further regulate charitable organizations and independent fundraisers if they place unattended donation containers; would require an organization's employees or volunteers and independent fundraisers who are responsible for collecting and counting funds from donation containers to register with the Attorney General and obtain a $1,000 fidelity bond. Status: 1/12/10 – Introduced in Assembly; referred to Consumer Affairs
A 1423 – Contractors. Would require all construction trade contractors to post a $3,000 license bond in addition to any other bond that may be required by contract; conditioned on faithful performance. Status: 1/12/10 – Introduced in Assembly; referred to Regulated Professions and Independent Authorities
A 1719/S 775 – Elevator Contractors. Would require elevator contractors to file a $3,000 bond in addition to any other bonds that may be required pursuant to contract. Status: 1/12/10 – Introduced in Assembly; referred to Regulated Professions and Independent Authorities
S 243 – Uniform Trust Code. Would adopt a new trust code based on the model act; bond requirement is “opt in” rather than “opt out.” Status: 1/12/10 – Introduced in Senate; referred to Judiciary
S 775/A 1719 – Elevator Contractors. Would require elevator contractors to file a $3,000 bond in addition to any other bonds that may be required pursuant to contract. Status: 1/12/10 – Introduced in Senate; referred to Community and Urban Affairs |
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H 175 – Debt Management Service Providers. Would adopt the Uniform Debt Management Services Act; would require debt-management service providers to post a $50,000 surety bond, which amount could be increased or decreased by the Director of the Financial Institutions Division based on certain conditions of the licensee. Status: 1/26/10 – Introduced in House; referred to Business and Industry and Judiciary
S 138 – Appraisal Management Companies. Would require real estate appraisal management companies to post a surety bond in a minimum amount of $25,000 or other security. Status: 1/21/10 – Introduced in Senate; referred to Committees, Corporations and Transportation, and Judiciary |
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A 9471 – Municipal Reciprocal Insurers. This bill relates to the bonding of public officials. Status: 1/6/10 – In Assembly; introduced and referred to Insurance
A 9707/S 6607 – State University Construction Projects - Threshold. Would increase the threshold at which performance and payment bonds are required for state university construction projects from $50,000 to $250,000. Status: 1/19/10 – In Assembly; introduced and referred to Ways and Means
S 6607/A 9707 – State University Construction Projects - Threshold. Would increase the threshold at which performance and payment bonds are required for state university construction projects from $50,000 to $250,000. Status: 1/19/10 – In Senate; introduced and referred to Finance |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 412 – Prevailing Wage Law. Would change the prevailing wage law so that it only applies to new construction projects, and would increase the threshold at which the rates apply to $1,000,000. Status: 1/20/10 – In House; from Rules and Reference; recommended referral to Commerce and Labor
S 165 – Oil and Gas Well Plugging. Provides that after a third renewal, an owner may be required to provide a bond in an amount not to exceed $10,000 for each well that has been approved for temporary inactive well status. Status: 12/9/09 – In Senate; committee report (substitute) |
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S 1946 – Roofing Contractors. Would regulate roofing contractors, requiring registration and a surety bond or an approved alternative in the amount of $500,000. Status: Prefiled
S 2029 – Commercial Contractors. Would regulate commercial contractors, requiring licensure and a $1,000,000 surety bond or cash bond prior to performing any services in the state. Status: Prefiled
S 2030 – Residential Contractors. Would regulate residential contractors, requiring licensure and a $1,000,000 surety bond or cash bond prior to performing any services in the state related to residential construction; would impose penalties for violations which could include jail time or a civil penalty, and would require the contractor to post an additional bond of $300,000. Status: Prefiled |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates.
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H 2140 – Procurement Code. Would direct the Department of General Services to create a "statewide bonding program" based on the best practices in procurement that the bill would outline. The program would be for enabling "small businesses and disadvantaged businesses to build capacity and to competitively bid on state and other public contracts." Status: 1/19/10 – In House; introduced and referred to State Government
H 2142 – Procurement Code. Would direct the Department of General Services to create a "statewide bonding program" based on the best practices in procurement that the bill would outline. The program would be for enabling "small businesses and disadvantaged businesses to build capacity and to competitively bid on state and other public contracts." Status: 1/19/10 – In House; introduced and referred to State Government
S 1155 – Public Officials. Would revise current law for bonding county officers and employees; consolidates the County Code and the Second Class County Code in existing law; provides that a bond, blanket bond, or "crime-fidelity insurance policy" could be provided to secure faithful performance of duties. Status: 12/16/09 – In Senate; from Local Government; read first time |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates.
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H 4228 – Debt Collection Agencies. Would require licensees to file and maintain a surety bond in an amount based on the total value of accounts in their possession in the previous year; bond amounts range from $15,000 to $150,000. Bonds must be maintained for three years after revocation, denial, or failure to renew the agency's license. Status: 1/12/10 – Introduced in House; read first time; referred to Labor, Commerce and Industry
H 4284 – Personal Property Recovery Agencies and Agents. Would require an agency to provide a bond in the penal sum of at least $150,000, increased by $10,000 for each branch office, conditioned for the faithful performance of the duties and obligations of the business. Status: 1/12/10 – Introduced in House, read first time; referred to Labor, Commerce and Industry |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 2697/S 2634 – Health Club Operators. Would repeal the $25,000 bond requirement. Status: 1/19/10 – Introduced
S 2634/H 2697 – Health Club Operators. Would repeal the $25,000 bond requirement. Status: 1/20/10 – Introduced
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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S 83 – Bail Recovery Agents. Would require bail recovery agents to post a $10,000 bond for the benefit of persons injured by the licensee, and would allow for direct third-party liability. Status: 1/6/10 – Prefiled |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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H 414/S 424 – Motor Vehicle Equity Loan Lenders. Would regulate motor vehicle equity loans, which are fixed term, closed-end loans secured by an interest in a motor vehicle; lenders would have to be licensed and post a minimum $50,000 surety bond. Status: 1/13/10 – Introduced in House; referred to Commerce and Labor
H 1258 – Indemnification Provisions in Construction Contracts. Would clarify existing law, which prohibits indemnification clauses in any contract or agreement for construction work that to indemnify or hold harmless another party to the contract against liability for damage arising out of bodily injury to persons or property suffered in the course of performance of the contract resulting from negligence; closes the loophole by prohibiting such clauses from being placed in the performance bond, payment bond or other documents related to the construction contract. Status: 1/19/10 – Introduced in House
H 1363/S 375 – Vehicle Title Lenders. Would regulate motor vehicle title lenders, requiring licensure and a surety bond an the amount of $50,000 per office, not to exceed $500,000. Status: 1/22/10 – Introduced in House; referred to Commerce and Labor
S 250 – Credit Plan Loans. Would regulate open-end credit plan lenders, requiring a license and a $10,000 surety bond for each location, not to exceed $50,000. Status: 1/13/10 – Introduced in Senate; referred to Commerce and Labor
S 375/H 1363 – Vehicle Title Lenders. Would regulate motor vehicle title lenders, requiring licensure and a surety bond an the amount of $50,000 per office, not to exceed $500,000. Status: 1/13/10 – Introduced in Senate; referred to Commerce and Labor
S 424/H 414 – Motor Vehicle Equity Loan Lenders. Would regulate motor vehicle equity loans, which are fixed term, closed-end loans secured by an interest in a motor vehicle; lenders would have to be licensed and post a minimum $50,000 surety bond. Status: 1/13/10 – Introduced in Senate; referred to Commerce and Labor
S 606 – Vehicle Title Lenders. Would regulate motor vehicle title lenders, requiring licensure and a surety bond an the amount of $50,000 per office, not to exceed $500,000. Status: 1/14/10 – Introduced in Senate; referred to Commerce and Labor |
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H 2564/S 6405 – Escrow Agents. Would revise existing bond amounts; would provide that if the fidelity bond coverage was not available a surety bond would be required. The director would promulgate rules for the bond amount, which would be based on the average monthly balance of client trust funds handled by the agent; $25,000 minimum, $250,000 maximum. Status: 1/21/10 – In House; passed to Rules Committee for second reading
H 2608/S 6406 – Residential Mortgage Loan Servicers. Would require servicers to post a bond in a minimum amount of $30,000, based on the annual dollar amount of loans serviced. Status: 2/4/10 – In House; scheduled for public hearing in the House Committee on General Government Appropriations
H 2636/S 6371 – Money Transmitters. Would revise the amount of the bond required for money transmitters, which currently ranges from $10,000 to $50,000, plus $10,000 per location; provides that the bond amount would be based on the dollar volume of the prior year's money transmissions and the dollar volume of the prior year's payment instruments; $10,000 minimum, $550,000 maximum. Status: 1/28/10 – In House; placed on second reading by Rules Committee
H 3040 – Appraisal Management Companies. Would require licensees to file and maintain a surety bond in the minimum amount of $25,000 and based on the annual volume of appraisal orders in the state. Status: 2/2/10 – Executive action taken in the House Committee on Commerce and Labor; substituted, do pass
S 6371/H 2636 – Money Transmitters. Would revise the amount of the bond required for money transmitters, which currently ranges from $10,000 to $50,000, plus $10,000 per location; provides that the bond amount would be based on the dollar volume of the prior year's money transmissions and the dollar volume of the prior year's payment instruments; $10,000 minimum, $550,000 maximum. Status: 2/2/10 – In Senate; substituted, do pass; passed to Rules Committee for second reading; made eligible to be placed on second reading
S 6405/H 2564 – Escrow Agents. Would revise existing bond amounts; would provide that if the fidelity bond coverage was not available a surety bond would be required. The director would promulgate rules for the bond amount, which would be based on the average monthly balance of client trust funds handled by the agent; $25,000 minimum, $250,000 maximum. Status: 2/2/10 – In Senate; substituted, do pass and refer to Ways and Means; on motion, referred to Rules; made eligible to be placed on second reading
S 6406/H 2608 – Residential Mortgage Loan Servicers. Would require servicers to post a bond in a minimum amount of $30,000, based on the annual dollar amount of loans serviced. Status: 2/3/10 – In Senate; scheduled for executive session in the Senate Committee on Financial Institutions and Housing and Insurance
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H 2479 – Private Investigators and Security Guards. Would increase the amount of the license bond for security guards and security guard firms from $2,500 to $20,000. Status: 1/13/10 – In House; introduced and referred to Judiciary
H 2923 – Disclosure of Subcontractors. This is an anti-bid shopping measure that would require the general contractor to submit a list of all subcontractors to be used on a public construction contract. It would prohibit the general contractor from substituting any subcontractors unless he or she could prove its advantage to the owner. Status: 1/13/10 – In House; introduced and referred to Energy, Industry and Labor, Economic Development and Small Business
H 4196 – Boxing Promoters. Would require promoters to post a surety bond in an amount not less than $100,000 in connection with promoting boxing, mixed martial arts and tough man contests. Status: 1/27/10 – In House; introduced and referred to Judiciary
S 205 – Private Cemeteries. Would regulate private cemeteries, requiring licensure and compliance with certain financial requirements. A bond would have to be in an amount sufficient to cover all payments for the pre-need contracts. Status: 1/13/10 – In Senate; introduced and referred to Judiciary. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
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2010 legislative developments significant to the surety bonding industry will be posted as soon as they become available. Contact CNA Surety Public Affairs if you have information regarding legislative updates. |
