Ohio to accept Credit Services Bonds through NMLS

Alpha Surety logo with ohio state outline

OHIO – The Division of Financial Institutions move to accepting surety bonds electronically for the Credit Services Organization Certification of Registration through the Nationwide Multistate Licensing System (NMLS) starting April 23, 2020. No credit services organization can legally conduct business in the Stare of Ohio without obtaining a surety bond by an authorized surety bond … Read more

Surety bond backs Super Bowl promotion

When companies like Pepsi needs a last-minute sweepstakes surety bond for its upcoming Super Bowl promotion, sponsors and ad agencies throw it over to Alpha Surety to rush it to the end zone in time. Pepsi-Cola® Frito-Lay® “Rush in to Win” Instant-Win Promotion includes a chance to win $10,000 cash, free groceries for a year, … Read more

New Nevada mortgage company license, bond rules soon go into effect

NEVADA — The Nevada Division of Mortgage Lending will begin accepting electronic surety bonds for the new state Mortgage Company License through the Nationwide Multistate Licensing System (NMLS) starting Jan. 1, 2020. Anyone planning to renew their Nevada license as a mortgage broker and/or mortgage banker, needs one renewal as a mortgage company, according to … Read more

Nevada clarifies cryptocurrency licensing regulations

NEVADA — Cryptocurrency operators must obtain a money transmitter license and surety bond to conduct business in the state, clarified the Financial Institutions Division at the Nevada Department of Business and Industry in a recent official statement. Under Nevada Revised Statutes Chapter 671, any “entity engaged in the business of selling or using checks or … Read more

Rhode Island requires new Currency Transmitter Surety Bond

RHODE ISLAND – Businesses engaged in currency transmission will soon be required to submit a new surety bond form. The 2019 General Assembly enacted legislation effectively merges “Sale of Checks” and “Electronic Money Transfers” licenses into one “Currency Transmitter” license. The revisions define currency transmission as engaging in the “sale or issuance of payment instruments … Read more

New Mexico expands pharmaceutical licensing requirements

NEW MEXICO — The New Mexico Board of Pharmacy now requires drug manufacturers, outsourcing facilities, repackagers, and third-party logistics providers to be licensed and bonded. While the law previously required only nonresident pharmacies and wholesale drug distributors to be bonded, Senate Bill 271 broadened regulations after passing in June 2019. These surety bonds provide security … Read more

Alabama ups motor vehicle dealer license bond amount

ALABAMA — Lawmakers passed updates to several state motor vehicle dealer licensing regulations, including a surety bond amount increase and violation penalty adjustments. The changes outlined in House Bill 393 will go into effect in October 2020 and will affect new and used motor vehicle dealers, motor vehicle rebuilders and motor vehicle wholesalers or wholesale … Read more

Rhode Island now requires student loan servicers be registered, bonded

RHODE ISLAND — The new “Student Loan Bill of Rights Act” requires student loan servicers to be bonded and registered with the state. The law took effect July 15 and is meant prohibit any misleading, unfair or deceptive behavior and provide best practices for protecting consumers’ rights. In addition to requiring student loan servicer registration, the … Read more