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Popular Surety Bonds in Michigan
Michigan Fidelity Bonds
Fidelity bonds protect employers from damages associated with losses that employees cause, like theft, embezzlement, forgery, or illegal funds transfers.
Auto Dealer Bond
You’ll need a surety bond to work as an auto dealer in Michigan. You may also need a separate bond to operate your business in the City of Detroit.
Michigan Notary Surety Bond
To become a notary in Michigan, you must post and maintain a $10,000 bond for your six-year commission.
Mortgage Loan Originator Bonds
The State of Michigan requires anyone applying for a mortgage loan originator license to purchase a surety bond. Based on loan origination volume, bond amounts range from $25,000 to $250,000.
Liquor License Bond
You must purchase a surety bond to obtain a liquor license in Michigan for beer, wine, and spirits or non-retail liquor. Liquor bonds allow the state to collect unpaid taxes.
Michigan Title Bonds
If you don’t have the original title to your vehicle or watercraft, you may need a bonded title (a title with a surety bond attached). Title bonds protect the state, lienholders, and past and future owners from financial loss.
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