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Forty-nine US states (sans Montana [4] [5]) regulate (i.e., require licensure for) money transmitters, although the laws vary from one state to the other. [6] Most of the states require a money transmitter surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintain a minimum capital requirement.
Construction in East Village, San Diego. A "Little Miller Act" is a U.S. state statute, based upon the federal Miller Act, that requires prime contractors on state construction projects to post bonds guaranteeing the performance of their contractual duties and/or the payment of their subcontractors and material suppliers.
States have also enacted what are referred to as "Little Miller Act" statutes, [5] requiring performance and payment bonds on State-funded projects. Each bond has a designated bond amount. Surety bond companies will determine the bond rate based on risk and then charge a surety bond premium in the range 1-15% of the bond amount. [citation needed]
To conduct a lien sale, the person/lienholder must have possession of the vehicle and may require lien sale authorization from the State's Department of Motor Vehicles, depending on the State and or value of the vehicle. Interested parties, including the registered and legal owners of record will be notified, by Registered Mail, before the sale ...
To hold office as Secretary of State, a person must be a United States citizen registered to vote in the state of Washington, provide a $10,000 surety bond to the state conditioned on faithful execution of the duties of office, and reside in the city of Olympia, Washington, by the time of inauguration.
A supersedeas bond (often shortened to supersedeas), also known as a defendant's appeal bond, is a type of surety bond that a court requires from an appellant who wants to delay payment of a judgment until an appeal is over. [1] [2] This is a feature of common law, and in particular the American legal system.
Jan. 16—OLYMPIA — During the 2023 election cycle in Washington, 20 school bond measures went on ballots in local elections. Of them, only two met the 60% threshold of votes needed to pass.
A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...