Effective July 1, 2022, the Connecticut Department of Motor Vehicles (DMV) requires the following businesses to increase their current license bonds. Vehicle repair shops Motor vehicle dealers (new and used) Leasing and rental entities A license bond is required of applicants in various industries to meet state requirements to obtain a business license. In this […]
Category Archives: Commercial Bonds
30
May
May
Various bills have recently been filed in Oklahoma regarding the production, use, and regulation of cannabis. Lawmakers are proposing many changes to the state’s marijuana industry, including a $25,000 bond requirement – regulated by the Oklahoma Medical Marijuana Authority (OMMA). The state is also considering adding marijuana rights to the Constitution. During the 2022 November […]
24
Feb
Feb
Commercial Bonds vs. Contract Bonds: How Are They Different? There are several types of surety bonds. Two of the main categories are contract bonds and commercial bonds, which we’ll cover today. While they have overlapping similarities, they also have some distinct differences that set them apart. Read on to learn when and why you might […]