Attachment E "Arkansas Surety Bond" - Arkansas

What Is Attachment E?

This is a legal form that was released by the Arkansas Securities Department - a government authority operating within Arkansas. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2017;
  • The latest edition provided by the Arkansas Securities Department;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Attachment E by clicking the link below or browse more documents and templates provided by the Arkansas Securities Department.

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Download Attachment E "Arkansas Surety Bond" - Arkansas

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ARKANSAS SECURITIES DEPARTMENT
HERITAGE WEST BUILDING, SUITE 300
201 E. MARKHAM
LITTLE ROCK, ARKANSAS 72201
UNIFORM MONEY SERVICES ACT
SURETY BOND FORM
Bond Number: ______________________________________
THIS SURETY BOND is given by the following SURETY:
Name
Home Office Address
City, State Zip
And the following PRINCIPAL:
Name
License Address
City, State and Zip
SURETY is an entity licensed to transact surety business in the State of Arkansas.
PRINCIPAL, pursuant to the Uniform Money Services Act [Ark. Code Ann. § 23-55-101 et seq.](“Act”), has
made application to, or is currently licensed by, the Arkansas Securities Commissioner (“Commissioner”) to
engage in the business of Money Transmission.
SURETY ensures that the PRINCIPAL’S obligations will be performed and acknowledges their indebtedness
to any person having a claim pursuant to a cause of action brought against the PRINCIPAL under the Act. As
required by the Act and Money Services Rules (“Rules”), this surety bond (“Bond”) is in the amount of:
________________________________________________________________________________________
(A surety bond in the amount of $50,000 plus $10,000 per location. Maximum bond amount required is $300,000.)
in lawful money of the United States, the payment of which the PRINCIPAL and SURETY jointly and severally
bind themselves, their successors, assigns, and legal representatives, to secure the faithful performance of the
obligations of the PRINCIPAL for its conduct and that of its officers and employees under the Act. The
aggregate liability hereunder to all persons shall not exceed the amount specified for the bond, regardless of the
number of claimants, and shall not be construed as individual liability.
ARKANSAS SECURITIES DEPARTMENT
HERITAGE WEST BUILDING, SUITE 300
201 E. MARKHAM
LITTLE ROCK, ARKANSAS 72201
UNIFORM MONEY SERVICES ACT
SURETY BOND FORM
Bond Number: ______________________________________
THIS SURETY BOND is given by the following SURETY:
Name
Home Office Address
City, State Zip
And the following PRINCIPAL:
Name
License Address
City, State and Zip
SURETY is an entity licensed to transact surety business in the State of Arkansas.
PRINCIPAL, pursuant to the Uniform Money Services Act [Ark. Code Ann. § 23-55-101 et seq.](“Act”), has
made application to, or is currently licensed by, the Arkansas Securities Commissioner (“Commissioner”) to
engage in the business of Money Transmission.
SURETY ensures that the PRINCIPAL’S obligations will be performed and acknowledges their indebtedness
to any person having a claim pursuant to a cause of action brought against the PRINCIPAL under the Act. As
required by the Act and Money Services Rules (“Rules”), this surety bond (“Bond”) is in the amount of:
________________________________________________________________________________________
(A surety bond in the amount of $50,000 plus $10,000 per location. Maximum bond amount required is $300,000.)
in lawful money of the United States, the payment of which the PRINCIPAL and SURETY jointly and severally
bind themselves, their successors, assigns, and legal representatives, to secure the faithful performance of the
obligations of the PRINCIPAL for its conduct and that of its officers and employees under the Act. The
aggregate liability hereunder to all persons shall not exceed the amount specified for the bond, regardless of the
number of claimants, and shall not be construed as individual liability.
Page 2
Liability for the payment of the amount to which we hereby obligate and bond ourselves, our heirs, executors,
administrators, successors and assigns, jointly and severally, becomes effective upon the following conditions:
1. Registration of the PRINCIPAL to engage in the business of Money Transmission in the State of
Arkansas.
2. Failure by the PRINCIPAL to strictly comply with all applicable provisions of the Act and Rules.
If the PRINCIPAL fully complies with the provisions of Act, and pays and discharges all amounts owed upon
any judgment or order obtained in any court of competent jurisdiction by any person or persons who may be
injured or damaged by the PRINCIPAL while engaging in the business of Money Transmission, including
judgments in suits for the misappropriation of any funds paid into or deposited with the PRINCIPAL, this bond
shall be null and void; otherwise, this bond shall be and remain in full force and effect.
This Bond shall expire at such time as the license of the PRINCIPAL is withdrawn, terminates through non-
renewal, or is revoked by the Commissioner, except as to liability for acts or omissions which occur prior to
such time. This Bond may also be cancelled by the SURETY upon sixty (60) days prior written notice by
registered mail to the PRINCIPAL and to the Commissioner, in which case this Bond shall be considered
cancelled upon the expiration of said sixty (60) day period, except as to liability for acts or omissions which
occur prior to the date of cancellation. Notice shall be deemed effective upon the receipt by the Commissioner
of said written notice along with sufficient proof of notice to the PRINCIPAL.
This Bond shall cover claims for a period of at least five years from the point in time a liability or violation of
the Act occurs. No suit may be maintained to enforce any liability arising under this Bond unless brought within
five years after the act or omission upon which jurisdiction is established against the PRINCIPAL and/or the
SURETY upon this Bond. In no event shall the total liability of the SURETY, to all persons, cumulative or
otherwise, exceed the amount specified in this Bond. It is understood and agreed that any person(s) having a
claim under the conditions of this obligation may initiate suit in any court of competent jurisdiction against the
PRINCIPAL and/or the SURETY upon this Bond.
WITNESS OUR SIGNATURES on this ________ day of ________________________, 20________.
PRINCIPAL: ___________________________________________
BY: ___________________________________________
TITLE: ___________________________________________
SURETY: ___________________________________________
BY: ___________________________________________
TITLE: ___________________________________________
NOTE: Persons executing for SURETY other than corporate officers must attach a Power of Attorney.
Revised August 2017
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