The Michigan Education School Bond is required by the Michigan Department of Education, Proprietary School Unit.
What is the purpose of a Michigan Education School Bond?
The bond ensures that the bondholder will establish and operate a private trade school, business school, institute or correspondence school under the provisions of Public Act 148 of 1943.
What are requirement are needed in order to operate a private trade school, business school, or institute in Michigan?
All applicants must complete the Application Form, and enclose the following information:
- Fire Inspection or Certificate of Occupancy.
- Proposed Advertising, including website materials.
- Surety pursuant to MCL 395.102b – if in the form of a Surety Bond it must be payable to the State of Michigan, in the name of the school, to indemnify students for loss due to the closing of the school, in an amount as provided in rule 2a, R 390.562a. (Must be a minimum of $5,000)
- List of equipment supplied by the school.
- Drawing of the Instructional Facility, including the size and layout of classrooms and laboratories.
- Position description, including job duties, license or certification requirements, minimum education, and work experience requirements, for
- each instructional and administrative position related to each of the programs listed.
- Proof of accreditation, if applicable.
- Health Inspection, if applicable.
- Medical Waste Producing Facility Registration, if applicable
How do I obtain a Michigan Education School Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.