The Alaska Deferred Deposit Surety Bond (Payday Lenders Bond) is required by the Division of Banking and Securities in Alaska. They require the bond amount to be $25,000 for a single office location and $50,000 for multiple office locations. The Department of Commerce, Community and Economic Development of the State of Alaska requires this bond for a license to conduct business in full compliance with AS 06.50, known as the Deferred Deposit Advance Act.
What is the purpose of the Alaska Deferred Deposit Surety Bond (Payday Lenders Bond)?
Alaska Statutes 2017 06.50 states that no person can offer to make deferred deposit advances in the state of Alaska without having a license. The following are just some of what is needed for a deferred deposit advanced business application, you can look at the full application packet found at the Department of Commerce, Community, and Economic Development Division of Banking and Securities website.
- Completed application form
- Alaska Affidavit Form
- Business License/ Entity Registration
- Company business documents including a business plan, organizational chart, management chart, certificate of good standing.
- Financial statements of the most recent quarter end and also audited financial statements for the last two years if available.
A surety bond is needed in order for the state to be assured that as a business, you will promise to be professional and follow all the rules and regulations of the state. The surety bond protects the public from any fraudulent activities that you might do.
Where can I get an Alaska Deferred Deposit Surety Bond (Payday Lenders Bond)?
Simply complete our easy to navigate online application form and within 1 business day one of our professional surety bond agents will contact you with a firm quote. Then make payment, sign some paperwork and your bond will be delivered USPS priority mail. Overnight shipping is also available.
Surety Solutions Insurance Services, Inc.(Surety1) has been issuing Alaska surety bonds since 2003 and is licensed in all 50 states. The company maintains an A+ rating by the Better Business Bureau and represents over a dozen surety bond markets.