Michigan Money Transmitter Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Michigan Money Transmitter Bonds At a Glance: Lowest Cost: $7,500 per year or $750 per month based on the applicant’s credit Bond Amount: $500,000 plus $10,000 per additional office location to a maximum of $1.5 million …
Michigan Deferred Presentment Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Michigan Deferred Presentment Bonds At a Glance: Lowest Cost: $750 per year, based on the applicant’s credit Bond Amount: $50,000, if one individual owns a 20% or greater stake in multiple licensed businesses than only one …
Michigan Consumer Financial Services Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Michigan Consumer Financial Services Bonds At a Glance: Lowest Cost: $5,000 per year or $500 per month based on the applicant’s credit Bond Amount: $500,000 for Class II license holders who conduct money transmission services …
Michigan Debt Management Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Michigan Debt Management Bonds At a Glance: Lowest Cost: $375 per year or $38 per month based on the applicant’s credit Bond Amount: Between $25,000 to $100,000 (more on this later) Who Needs it: All debt …
Michigan Collection Agency Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Michigan Collection Agency Bonds At a Glance: Lowest Cost: 0.75% of the bond amount per year based on the applicant’s credit Bond Amount: Between $5,000 to $500,000 (more on this later) Who Needs it: All collection …
Maine Mortgage Loan Originator Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Maine Mortgage Loan Originator Bonds At a Glance: Lowest Cost: $188 per year or $19 per month based on the applicant’s credit Bond Amount: $25,000 Who Needs it: All Maine mortgage loan originators (MLOs) who …
Maine Money Transmitter Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Maine Money Transmitter Bonds At a Glance: Lowest Cost: $1,500 per year or $150 per month based on the applicant’s credit Bond Amount: $100,000 Who Needs it: All money transmitters and money order/travelers check issuers operating …
Maine Payday Lender Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Maine Payday Lender Bonds At a Glance: Lowest Cost: $750 per year or $75 per month, based on the applicant’s credit Bond Amount: $50,000 per office location Who Needs it: All payday lenders operating in Maine …
Maine Refund Anticipation Loan Broker Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Maine Refund Anticipation Loan Broker Bonds *This article focuses solely on the bonding requirements for Maine loan brokers who issue refund anticipation loans. To learn about the bonding requirements for loan brokers who do …
Maine Supervised Lender Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Maine Supervised Lender Bonds At a Glance: Lowest Cost: $375 per year or $38 per month, based on the applicant’s credit Bond Amount: $50,000 Who Needs it: All supervised lenders operating in Maine Purpose: To ensure the …
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