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Bond of Personal Representative Arkansas Form

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[Music] in this video we explain what arkansas money transmitter bonds are and how insurance agents can efficiently obtain them for their customers a money transmitter bond is a government required surety bond that protects the public from financial harm if the money transmitter fails to comply with licensing regulations the limit on the arkansas money transmitter bond is fifty thousand dollars plus an additional ten thousand dollars per branch office to a maximum requirement of three hundred thousand dollars the bond is required for all money transmitters operating in the state and is regulated by the arkansas securities department money transmitters are required to purchase this bond as a prerequisite to obtaining a business license the bond costs between 1.5 percent to 7.5 percent of the bond amount per year based off of factors such as the money transmitter's credit score and years of business experience to avoid claims met against their bond money transmitters in arkansas

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