"Collection Agency Licensee Surety Bond Calculation" - Idaho

Collection Agency Licensee Surety Bond Calculation is a legal document that was released by the Idaho Department of Finance - a government authority operating within Idaho.

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PATRICIA PERKINS
Director
BRAD LITTLE
Governor
2020 COLLECTION AGENCY LICENSEE SURETY BOND CALCULATION
Must be Filed by March 15, 2021
Complete either Section 1 or Section 2 based on your license type
Pertains to Idaho activity only
Complete all information—do NOT leave any space blank or solely default to maximum coverage.
Attach surety bond rider, if applicable, to this form filing.
Section 1: Applies only to Collection Agencies with a license number prefix of “CCA”
A.
Calculate any change in bond amount required pursuant to Idaho Code § 26-2232 or § 26-2232A
1)
Total gross payments to agency during 2020
_________________________
(Pertains to Idaho activity only)
Should match amount shown on Annual Activity Report Section 1 ”Idaho Collections”
2)
Subtract fees earned (pertains to Idaho activity only)
_________________________
Should match amount shown on Annual Activity Report Section 1 ”Fees Received from Idaho Debtors”
3)
Equals TOTAL NET COLLECTIONS
_________________________
4)
Divide total net collections by 6
_________________________
5)
Round to the next highest $1,000
(minimum $15,000 - maximum $100,000)
________________________^^
^^This is your new required surety bond amount. Provide a fully executed bond rider for any changes.
OR
Section 2: Applies to licensees with a license number prefix of “CDC,” “CDB,” “CDS,” or “CCR”
B. Calculate any change in bond amount required pursuant to Idaho Code § 26-2232A
1)
Total moneys accepted, received or held for another party during 2020
_________________________
(Pertains to Idaho activity only)
2)
Divide by 6
_________________________
3)
Round to the next highest $1,000
(minimum $15,000 - maximum $100,000)*
_______________________^^
^^This is your new required surety bond amount. Provide a fully executed bond rider for any changes.
Certification of an owner, officer, director, partner or member: I HEREBY CERTIFY that the statements contained in this report and any
attachments are true and correct and are based on the business activities of the licensee identified below for the period of January 1,
2020, through December 31, 2020, pursuant to the license issued to it under the Idaho Collection Agency Act.
Licensed Company Name: ____________________________________________
License #: _______________________________
Signature: _________________________________________________
NMLS #: ___________________________________
Printed Name: ______________________________________________
Title: ______________________________________
Phone: ______________________ Email: _____________ _________________ Date: ___________________________________
PATRICIA PERKINS
Director
BRAD LITTLE
Governor
2020 COLLECTION AGENCY LICENSEE SURETY BOND CALCULATION
Must be Filed by March 15, 2021
Complete either Section 1 or Section 2 based on your license type
Pertains to Idaho activity only
Complete all information—do NOT leave any space blank or solely default to maximum coverage.
Attach surety bond rider, if applicable, to this form filing.
Section 1: Applies only to Collection Agencies with a license number prefix of “CCA”
A.
Calculate any change in bond amount required pursuant to Idaho Code § 26-2232 or § 26-2232A
1)
Total gross payments to agency during 2020
_________________________
(Pertains to Idaho activity only)
Should match amount shown on Annual Activity Report Section 1 ”Idaho Collections”
2)
Subtract fees earned (pertains to Idaho activity only)
_________________________
Should match amount shown on Annual Activity Report Section 1 ”Fees Received from Idaho Debtors”
3)
Equals TOTAL NET COLLECTIONS
_________________________
4)
Divide total net collections by 6
_________________________
5)
Round to the next highest $1,000
(minimum $15,000 - maximum $100,000)
________________________^^
^^This is your new required surety bond amount. Provide a fully executed bond rider for any changes.
OR
Section 2: Applies to licensees with a license number prefix of “CDC,” “CDB,” “CDS,” or “CCR”
B. Calculate any change in bond amount required pursuant to Idaho Code § 26-2232A
1)
Total moneys accepted, received or held for another party during 2020
_________________________
(Pertains to Idaho activity only)
2)
Divide by 6
_________________________
3)
Round to the next highest $1,000
(minimum $15,000 - maximum $100,000)*
_______________________^^
^^This is your new required surety bond amount. Provide a fully executed bond rider for any changes.
Certification of an owner, officer, director, partner or member: I HEREBY CERTIFY that the statements contained in this report and any
attachments are true and correct and are based on the business activities of the licensee identified below for the period of January 1,
2020, through December 31, 2020, pursuant to the license issued to it under the Idaho Collection Agency Act.
Licensed Company Name: ____________________________________________
License #: _______________________________
Signature: _________________________________________________
NMLS #: ___________________________________
Printed Name: ______________________________________________
Title: ______________________________________
Phone: ______________________ Email: _____________ _________________ Date: ___________________________________