"Debt Management Services License Surety Bond" - Delaware

Debt Management Services License Surety Bond is a legal document that was released by the Delaware Department of Justice - a government authority operating within Delaware.

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Download "Debt Management Services License Surety Bond" - Delaware

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Debt Management Services License
Surety Bond
Bond Number _______
THE UNDERSIGNED, ____________________of ________________________
(Company Name)
(Company Complete Address)
________________________________________________ as PRINCIPAL and
__________________ of _____________________________________________
(Surety’s Name)
(Surety’s Address)
as SURETY, are firmly bonded unto the State of Delaware in the penal sum of
$___________________(at least $50,000) for payment of which we jointly and
severally bind ourselves and our heirs, personal representatives, successors and
assigns, this
_____________________day of
__________________, 20___.
WHEREAS, the Principal has applied to the Delaware Attorney General for the license
indicated above, as provided by applicable provisions of 6 Del. Code, Chapter 24A; and
WHEREAS, the Principal is required to file a surety bond in order to obtain such license;
and
WHEREAS, the provisions of this law and regulations are fully incorporated herein by
reference.
NOW, THEREFORE, the conditions of this obligation are set forth in 6 Del. Code
§2413A, and as follows:
1. The Surety Bond shall run to the State for benefit of the Attorney General and for
the benefit of all consumers injured by any wrongful act, omission, default, fraud,
or misrepresentation by a Licensee or agent of a licensee including an agent
managing a trust account.
2. This bond may be canceled at any time by the Surety, but such cancellation shall
be effective at least 30 days after written notice of the cancellation has been given
by the Surety to the Attorney General by certified mail.
3. This bond continues as to all transactions of the Licensee and transactions of its
agents on behalf of the Licensee and any claim under this bond must be made
with the Surety within two (2) years after Licensee ceases, for any reason, to be
licensed.
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Debt Management Services License
Surety Bond
Bond Number _______
THE UNDERSIGNED, ____________________of ________________________
(Company Name)
(Company Complete Address)
________________________________________________ as PRINCIPAL and
__________________ of _____________________________________________
(Surety’s Name)
(Surety’s Address)
as SURETY, are firmly bonded unto the State of Delaware in the penal sum of
$___________________(at least $50,000) for payment of which we jointly and
severally bind ourselves and our heirs, personal representatives, successors and
assigns, this
_____________________day of
__________________, 20___.
WHEREAS, the Principal has applied to the Delaware Attorney General for the license
indicated above, as provided by applicable provisions of 6 Del. Code, Chapter 24A; and
WHEREAS, the Principal is required to file a surety bond in order to obtain such license;
and
WHEREAS, the provisions of this law and regulations are fully incorporated herein by
reference.
NOW, THEREFORE, the conditions of this obligation are set forth in 6 Del. Code
§2413A, and as follows:
1. The Surety Bond shall run to the State for benefit of the Attorney General and for
the benefit of all consumers injured by any wrongful act, omission, default, fraud,
or misrepresentation by a Licensee or agent of a licensee including an agent
managing a trust account.
2. This bond may be canceled at any time by the Surety, but such cancellation shall
be effective at least 30 days after written notice of the cancellation has been given
by the Surety to the Attorney General by certified mail.
3. This bond continues as to all transactions of the Licensee and transactions of its
agents on behalf of the Licensee and any claim under this bond must be made
with the Surety within two (2) years after Licensee ceases, for any reason, to be
licensed.
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4. This bond is conditioned so that the Licensee and its agents shall comply with all
State and federal laws and regulations governing the business of providing debt
management services.
5. This bond covers any breach of the above-stated obligations occurring during the
bonding period, prior to the effective date of cancellation or termination of the
bond.
6. The liability of the Surety is not affected by the insolvency or bankruptcy of the
Licensee or its agent or by any misrepresentation, breach of warranty, failure to
pay a premium, or other act or omission of the Licensee or its agent.
7. The Surety shall notify the Attorney General when it receives a claim against the
bond and shall not pay the claim unless and until it receives notice to do so from
the Attorney General.
8. Any civil penalties imposed by a violation of 6 Del. Code, Chapter 24A, may be
paid and collected from the proceeds of this surety bond.
9. If the Principal faithfully conforms to and abides by each and every provision of
applicable laws and regulations while engaging in the business to which this bond
applies, then this obligation is to be void. Otherwise, it shall remain in full force
and effect for the period beginning ________________, 20___, and continuing
unless cancelled by paragraph 2.
10. All required notices to the Attorney General must be made by certified mail to the
following address:
Director of Consumer Protection
Carvel State Building
820 N. French Street, Fifth Floor
Wilmington, DE 19801
WITNESS
(SIGNATURE OF INDIVIDUAL OR
PARTNERSHIP PRINCIPALS)
____________________________
_______________________________
(
SEAL)
_________________________________
______________________________________
(SEAL)
_________________________________
______________________________________
(SEAL)
ATTEST:
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_____________________________
Corporate or Limited Liability Company Principal
__________________________________
By____________________________________
Secretary or Assistant Secretary
President, Vice President or Authorized Member (SEAL)
(Affix Seal of Corporation)
ATTEST:
________________________________
Name of the Surety
_______________________________________
By___________________________________________
Secretary or Assistant Secretary
Authorized Signature
(SEAL)
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