New York Watch, Guard, and Patrol Agencies Need License and Bond

Mar 14 Posted on

patrol agencies

New York watch, guard, and patrol agencies, as well as private investigators, need to get a license and a surety bond from the state to operate within the law. Find out how to get licensed and bonded.

Navigating the Licensing and Bonding Process for Professionals

New York patrol agencies and private investigators become licensed through the Division of Licensing Services in the Department of State. Eligibility criteria for the license includes:

  • At least 25 years old
  • Principal in the applying business
  • No disqualifying criminal convictions
  • Two years’ experience or two years’ equivalent position and experience
  • Pass thewritten exam within the previous two years

Before applying, the Department recommends getting familiar with agency and investigator licensing laws. Here’s some of the information you’ll need to provide when you apply:

  • Application type
  • Business type (LLC, individual, corporation, etc.)
  • DBA name, if applicable
  • Applicant’s personal information, including date of birth
  • Business address and contact information
  • Applicant’s residence history from previous three years
  • Five character witnesses per applicant
  • $10,000 surety bond

If your business will have more than one branch, you will need to submitseparate applications for each branch. Watch, guard, and patrol agencies will pay a $300 fee for an individual, proprietary license, plus $300 per branch location. For a corporate license, the fee is $400 for the initial license, plus $400 for additional locations. Private investigators will pay $400 for their proprietary license, or $500 for a corporate license, and will pay the respective amounts for more business locations. Those may not be the only fees you’ll pay; consult the Department’s fee schedule for more information. Licenses are valid for two years.

How to get bonded

New York watch, guard, and patrol agencies can get bonded easily with Single Source Insurance. If you have a solid credit history, you could pay as little as 1% of this bond’s total $10,000 amount�that’s only $100. The bond protects consumers, giving them an avenue to seek reimbursement if you violate the terms of your license and cause them financial damages. Get a free quote today!

Bail enforcement agents

Bail enforcement agents submit the same application as patrol agencies and private investigators, and they also need to get a surety bond. However, their�bondis much larger at $500,000, since the state has determined a higher amount of risk is associated with that line of work.

Ready to get your New York surety bond? Single Source Insurance can help�call today!

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Surety Bonds for Arkansas Arcade Game Operators

Mar 12 Posted on

Arkansas arcade

Photo by�Carl RawonUnsplash

Arkansas arcade game operators need to register and get a surety bond before they can do business in the state.

What’s a coin-operated amusement machine?

In the state of Arkansas, arcade games fall under the coin-operated amusement machine umbrella. Here are a few of the other games the definition includes:

  • Pinball machines
  • Claw and crane machines
  • Target or shooting gallery machines
  • Skeeball
  • Air hockey
  • Coin-operated billiards or pool

The definition explicitly excludes these coin-operated amusement machines:

  • Machine for playing poker, blackjack, or any variant of those games
  • Vending machines
  • Pay phones
  • Gumball machines
  • Parking meters
  • Washing machines and dryers

Getting registered and bonded

Arkansas arcade game operators register with the Department of Finance and Administration. Registration is required to ensure all game operators pay the required privilege taxes annually ($5 per machine per year), as well as their annual license fees:

  • $500 for one-three machines
  • $1,000 for four or more machines

To be eligible for licensure, the applicant must be at least 21 years old and a resident of Arkansas for at least one year. Follow the Department’s instructions and submit the following documents to get a permit:

Those forms register the arcade game operator as a taxpaying entity in the state of Arkansas and allow applicants to apply for the machine decals for their games. Each game needs a decal that displays the licensee’s license number, and those decals must be renewed annually.�Use form AMU-AR if you need more decals throughout the year. Renew your permit by July 1 each year.

Game operators using coin-operated machines exclusively at carnivals and fairs and operating less than three months per calendar year pay a smaller permit fee and do not need a surety bond�unless they exceed the three months their permit allows.

Ready to open an Arkansas arcade? Get your coin-operated amusement machine surety bond today from Single Source Insurance!�

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How To Get A Louisiana Auto Dealer License

Mar 9 Posted on

Louisiana auto dealers

Photo by�toine GarnieronUnsplash

Louisiana auto dealers need a license and surety bond if they sell new or used vehicles in the state. Two different organizations issue dealer licenses, and surety bond amounts vary. Keep reading to find out how to get licensed and bonded, or use our convenient online form to apply for a dealer bond today.

Get Bonded

Used Auto Dealer License Requirements

Louisiana auto dealers selling used cars are licensed by the state Used Motor Vehicle Commission. If you sell five or more cars in a calendar year, you’ll need this license. On the application, dealers must specify which types of used vehicles they will sell (cars, boats, trailers, motorcycles, etc.). Here are some of the requirements used car dealers must meet:

  • Established place of business (leased or owned)
  • At least one salesperson
  • Attend an Educational Training Seminar
  • Obtain a $50,000 surety bond (as of August 2016)
  • Obtain garage liability insurance
  • Zoning verification from local zoning authority
  • Permanent business sign
  • Business phone number

Once an application is under review, the business location will be inspected. When they are issued, licenses are valid from the date issued or January 1, whichever date is later, and expire December 31. The license costs $400 for the two-year term. Give the licensing requirements a thorough read before applying.

The surety bond required of used auto dealers increased in 2016 to $50,000, up from either $20,000 or $35,000, depending on how many cars the dealer sold.

New Auto Dealer License Requirements

Louisiana auto dealers selling new cars in the state go through a similar licensing process with the Motor Vehicle Commission. Their places of business must also be correctly zoned, and each business location needs a license. They also need a surety bond in a lessor amount, $20,000. Like the used car dealer bond, this bond protects consumers if the dealer breaks the law and causes them financial damage.

Licensing periods are a little more complicated for new car dealers�their license is valid for two years, and the period depends on which Commission district you are in (there are eight). Find which counties are in which district here, and then find your licensing period here in �32.1254.If you’re interested in applying to be an auto dealer in Louisiana, contact the Commission at (504) 838-5207 for forms and more informationthe forms are not available online.

Ready to get a Louisiana dealer license? Get started by getting a quote for your surety bond today!�

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Virginia HB 674 Gives Timeshare Developers Surety Bond Option

Mar 7 Posted on

timeshare

Late last month, Virginia governor Ralph Northam signed HB 674 into law, adding a surety bond provision for timeshare developers. The bill takes effect on July 1, 2018.

HB 674 modifies a portion of the Virginia Real Estate Timeshare Act. A timeshare is an arrangement wherein individuals own property in conjunction with other individuals on a floating or fixed schedule. The industry is regulated by the Common Interest Community Board, a division of the Department of Professional and Occupational Regulation (DPOR). Timeshare projects and programs need to be registered with the Board, and developers cannot accept any deposits until the project or program has been registered.

That’s where surety bonds come in. Under current law, when a timeshare developer begins accepting deposits, the funds need to be held in escrow until further action is taken. That is, until the cancellation period ends and the buyer can no longer cancel, until the buyer defaults on the contract, or until the deposit is refunded to the buyer. Requiring that the funds are held in an escrow account is a buyer protection measure, and this option is still available to developers to use.

HB 674’s passage means that developers now have another option that still protects buyers’ funds�a surety bond. If the timeshare project consists of 25 or more units, the developer can get a surety bond rather than holding the funds in escrow. If the total deposits equal less than $10,000, the developer needs surety bonds for each separate deposit. But, if the deposits exceed $10,000, they can get a blanket bond in varying amounts instead:

  • More than $10,000 but less than $75,000�$75,000 bond
  • More than $75,000 but less than $200,000�$200,000 bond
  • $200,000 or more but less than $500,000�$500,000 bond
  • $500,000 or more but less than $1,000,000�$1,000,000 bond
  • More than $1,000,000�Bond equaling 100% of deposits

Timeshare developers are still on the hook for refunding deposits when necessary, and for refunding the surety for any claims it pays out.

Questions about HB 674? Get in touch with the Board. Questions about getting a Virginia surety bond? You’re in the right place�get in touch with Single Source Insurance!

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Changes for Tennessee Real Estate Appraiser License Soon Take Effect

Mar 5 Posted on

Tennessee Real Estate Appraiser

Photo by�Lyndsey Marie�on�Unsplash

If you want to be a Tennessee real estate appraiser, you’ll apply for a license with the Department of Commerce & Insurance. Appraisal management companies need to register and get a surety bond.�Keep reading to find out how to get licensed and bonded, and to learn more about what’s new in May.

Real estate appraiser licensing

Appraisers in Tennessee are regulated by the Department’s Real Estate Appraiser Commission. They start as Registered Trainees and must work under licensed appraisers for 36 months. Trainees also must complete 75 hours of qualifying education in the five years prior to taking the licensure exam. After training is complete, appraiser applicants choose a licensing qualification based on their educational experience:

  • State Licensed Appraiser
  • State Certified Residential Appraiser
  • State Certified General Appraiser

Each type of license allows appraisals of different types of property in varying values�certified general appraisers can appraise any property. OnMay 1, 2018, new rules for each license level’s educational experience will take effect. One notable change is that licensed residential Tennessee real estate appraisers will no longer need 30 hours of college-level education. See the complete breakdown of what kinds of education are accepted for each license qualification. Besides education, the new rule will change the required hours of experience for each license type:

  • Licensed Residential Appraisers�1,000 hours in no fewer than six months
  • Certified Residential Appraisers�1,500 hours in no fewer than 12 months
  • Certified General Appraisers�3,000 hours in no less than 18 months; at least 1,500 hours in non-residential appraisal

Once approved to take the exam, Tennessee real estate appraiser applicants have 12 months and four chances to pass. Then they must submit their application and $555 fee to the Commission.

Appraisal management company registration and bonding

Appraisal management companies (AMCs) need to be certified if they provide appraisal services and during a twelve-month period, oversee 15 or more licensed appraisers in one state, or 25 or more licensed appraisers in two or more states. AMC registration asks for the business’s address and contact information, and asks that a controlling person is specified.

AMCs need to renew their registration every two years, and the Commission does not charge a fee. AMCs need a $20,000 surety bond at the time of registration. The bond is the company’s promise that they will uphold the provisions of the Tennessee Appraisal Management Company Registration and Regulation Act.

Ready to get a Tennessee surety bond? Get in touch with Single Source Insurance for a free quote today!�

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How to Get Licensed: Washington Collection Agencies

Mar 2 Posted on

Washington collection agencies

Washington collection agencies, both in- and out-of-state, need to get a license and $5,000 surety bond. Keep reading for a rundown on how licensing and bonding work.

Navigating the Licensing and Bonding Process for Professionals

Washington collection agencies’�licenses are issued by the Department of Licensing(DOL)in conjunction with the Department of Revenue’s Business Licensing Service (DOR; BLS). If your business is in the state and solicits, collects, or attempts to collect debts from debtors, you need the license. If you are based out-of-state and are collecting debts from Washington residents either directly or via a third party, you need the out-of-state agency license.

Collection agencies are required to establish a trust account for the funds they collect on clients’ behalf, and it must be in a sufficient amount to pay all obligations to clients.

Here are the steps you’ll take to apply for the collection agency license through the mail:

  1. Get a business licensethrough the Washington Department of Revenue.
  2. Submit an application for each separate business location. For more locations of the same business, use a location addendum.
  3. Complete a business financial statement. The statement needs to show finances from one of the three months prior to application (December applicants can use September, October, or November). It must show equity or net worth of $7,500 and available cash or its equivalent totaling $7,500.
  4. Get a $5,000 surety bond.
  5. Pay the licensing fees: $850 for an in-state main office, and $550 for each branch office, or $425 for an out-of-state main office license plus $275 for any other branch locations.

Out-of-state licensees may be exempt from the surety bond and licensing fee requirements if they have fulfilled those obligations in the state where they are based, and if they submit the proper documentation to the Department. Apply for a Washington collection agency license online here.

Collection agency surety bonds

Washington collection agencies are in a fairly high-risk business; malpractice is not uncommon in the finance industry. As a measure of financial protection for consumers, the state mandates that agencies get a $5,000 surety bond with their license. The bond is the agency’s promise to uphold state and federal law regarding their business. If they don’t, and a consumer suffers financial damages, the consumer can file a claim against the bond. Proven claims are paid by the surety, who is then reimbursed by the bondholder.

Have questions about getting bonded or ready to get a quote? Call Single Source Insurance today!�

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A Guide to Georgia Private Detective and Security Agency Licensing and Bonding

Feb 28 Posted on

Georgia private detective

Georgia private detective and security agencies have to obtain a license and file a surety bond with the state before offering their services to consumers. Here’s how you can get licensed and bonded.

Licensing an agency

Before even beginning the licensing process for Georgia private detective and security agencies, determine if you’re eligible to sit for the required examination. Here’s the criteria:

  • Be a U.S. citizen at least 18 years old
  • Be of good moral character
  • Have no felony convictions, or convictions for any crime involving dangerous weapons or moral terpitude
  • Must not have committed an act of fraud or dishonesty

Eligible applicants must also have qualifying experience:

  • Two years employed full-time at a licensed private detective or security agency
  • Two years of full-time law enforcement experience
  • Four-year degree in criminal justice or a related subject

If an employee of a security agency will be armed, they also need to obtain a license through Georgia Board of Private Detectives & Security Agencies. All employees of a private detective agency must be licensed.The following is some of the information the agency application requires:

  • $100 application fee
  • 2 in. x 2 in. photo and fingerprints of company designee (if company is a partnership or corporation)
  • Notarized letter of experience or sealed, certified college transcript
  • Federal Employer ID number
  • Business’s trade name
  • Business email and physical and mailing addresses
  • Information for authorized licenseholder

This list is far from exhaustive, so be sure to read the application in its entirety to ensure you answer every question and include all necessary documentation. Don’t forget to register any eligible employees and pay their application fee ($45-$80).

After your private detective or security agency is licensed, you’ll need to pay the licensing fees:

  • $300 for private detective agencies
  • $500 for security companies
  • $700 for dual licensure

Licenses expire on June 30 in odd years. Do not purchase the $25,000 surety bond until you have passed the exam. A surety bond isn’t the only valid proof of financial security; you can also show proof of $1,000,000 of general liability insurance coverage or a net worth in excess of $50,000.

Why do agencies need this surety bond?

Though there are two other options for proof of financial security, a surety bond tends to be the most affordable option. At $25,000, the Georgia private detective and security agency bond will cost most buyers less than 3% of that�so less than $750. The bond is in place as licensees’ promise to obey state law for their business. Agencies’ main set of laws are known as the Georgia Private Detective and Security Agencies Act. The bond protects the state and consumers from financial damages as a result of an agency’s negligent business practices.

Pass the licensing exam and ready to get to the next step? Get a quote for your Georgia bond from Single Source Insurance today!

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How to Get Licensed and Bonded: California Credit Services Organizations

Feb 26 Posted on

California credit services organizations

California credit services organizations are regulated by the state’s Department of Justice. Keep reading to find out how to register and get a surety bond.

Registering with the AG

California credit services organizations offer assistance to consumers with credit problems. The state defines them as organizations that provide and accept payment for performing or assisting a consumer with improving the consumer’s credit or helping them get a loan or extension of credit.

To get a Certificate of Registration from the Department organizations need to complete the application and then mail it in, along with a $100 filing fee and copies of contracts and any other documents consumers will have to sign. Here’s some of the information the application asks for:

  • Date business was or will be first advertised
  • Business name and DBAs
  • Type of ownership and name of primary contact person
  • Contact and personal information for any business owners
  • Description and copies of all advertising materials, including radio and TV advertisements
  • Description of credit services offered

Registration expires annually on December 31, and the Department does not send reminders to licensed businesses.�Credit services organization applicants must file a $100,000 surety bond with the California Secretary of State. Applications won’t be processed until the bond is on file and the $30 filing fee paid.

Why is this bond required?

California credit services organizations are required by law to get a surety bond because of the risky nature of their business. Handling consumer funds comes with a high risk of fraud, so registration and bonding are the state’s way of preventing fraud. In another protective measure, the bond has to be maintained for two years after the organization ceases operations.

The surety bond must be $100,000 with a term of no less than two years. If the organization disobeys the law and defrauds consumers or the state, claims can be made against the bond. If they’re paid out, the organization must reimburse the surety�meaning the bondholder is liable for the entirety of any paid claims. Those can be avoided by abiding by the bond’s terms and those of the Credit Services Act of 1984.

Ready to register as a California credit services organization? Call Single Source Insurance and get a free quote for your surety bond!�

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How To Get A Nebraska Car Dealer License

Feb 23 Posted on

Nebraska motor vehicle dealers

Photo by�Andrei IanovskiionUnsplash

In Nebraska, motor vehicle dealers need to get a license and surety bond. Keep reading to see what information the state needs, or apply online today to get the bond you need.

Get Bonded

Nebraska Dealer License Requirements

Licensing and bonding for car dealers are standard procedure in most states, including Nebraska. Nebraska motor vehicle dealers are issued licenses by the Motor Vehicle Industry Licensing Board. The term “motor vehicle dealer” also includes motorcycles and trailers, meaning licensed dealers can also sell those vehicles.

The Board has created thorough instructions for motor vehicle dealer applicants, so review them completely before submitting an application. Listed below is some of the information the Board will need:

  • Dealership’s DBA, address, and phone number
  • Zoning permit or letter from zoning authority
  • Photos of business and signage
  • Posted business hours of at least 40 hours per week
  • Proof of workers compensation insurance or coverage waiver
  • Franchise agreement, if applicable
  • $50,000 surety bond

Nebraska motor vehicle dealers must have service facilities at the business location, or they need a Service Agreement with a repair shop. After the application is submitted, a field investigator will inspect the dealership and approve or deny the application. The dealership must have space to display at least ten of the vehicles it will be selling. If the applicant doesn’t own the location, they must provide a lease agreement. Licenses expire each year on December 31.

Dealer Bond Requirements

Auto dealers need a $50,000 surety bond in Nebraskaa standard amount for dealers across the country. The bond means that dealers are guaranteeing the state and their customers that they will adhere to the terms of their license. And when it comes to selling cars, that means obeying all the laws pertaining to their business.

Dealers have obligations to their customers�that they won’t misrepresent the vehicle they’re selling, that they will not misuse customer funds, and that they will provide titles for the vehicles they sell. (And those are only a few of their responsibilities!) Should they violate the terms of their license and the surety bond, causing financial damage, claims can be filed against the bond. The dealer must reimburse the surety, so it’s their best bet to avoid claims on the bond.

How Much Does The Bond Cost?

Nebraska motor vehicle dealers’ bond provides $50,000 of coverage, and it’s underwritten, meaning its premium varies depending on a review of the bondholder’s credit. But don’t worry�with a strong financial history, applicants pay as little as 1%, or $500, for their bond.

Even if your credit isn’t at its highest, give Single Source Insurance a call and we’ll help you get bonded in Nebraska!

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Licensing and Surety Bonds for Michigan Collection Agencies

Feb 21 Posted on

Michigan collection agencies

Michigan collection agencies need to be licensed and get a surety bond to legally operate in the state. Here’s a quick look at the licensing process and why the bond is required.

Getting licensed

Michigan collection agencies are licensed by LARA, the Department of Licensing and Regulatory Affairs. In order to be eligible for a license, the applicant must:

Applicants need to be at least 18 years old and have a high school diploma or its equivalent. Owner-managers submit their manager applications alongside the agency application. Here’s some of the information the agency application asks for:

  • Agency name, address, and phone number
  • Manager’s personal information
  • Surety bond
  • $225 new license fee

Michigan collection agencies’ licenses expire each year on June 30, and the state issues license renewals 60 days prior to that. Renewal is $125. Each agency branch needs its own separate license and surety bond.

Questions about licensure? LARA compiled a list of FAQs for applicantssee if your question is answered.

Why do collection agencies need a bond?

Michigan collection agencies need a surety bond to protect the state and the individuals from whom the agency collects. In their first year of being licensed, agencies need to get a $5,000 bond�one for each business license or location. In subsequent years, the bond amount is based on the agency’s average monthly business numbers as filed in their Annual Report of Business and Operations.

This�surety bond protects individuals in the event that an agency falsely collects money from them, or if the agency fails to report on funds that were collected. It serves as the collection agency’s promise to obey all applicable laws regarding the business, and the agency is liable if it violates those terms. That means if the surety has to pay out any claims on the bond, the bondholder is on the hook for reimbursement.

Ready to get the licensing process started? Get a quote for your Michigan surety bond today!�

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