The Mississippi Patient Trust Bond is required by the State of Mississippi, Department of Health. The bond states that the bondholder will hold separate and in trust all patient’ funds deposited with the bondholder, and shall administer said funds on behalf of said patients in the manner directed by Mississippi, and Federal Law and regulations.
As stated in the Mississippi Administrative Code Title 23 Part 207, the surety bond serves as the commitment of the facility to meet the standard of conduct. They are assuring the obligee, in this case, the residents of the trust fund, that they will compensate the resident for any loss of the resident’s fund that the nursing facility holds and manages for them. There is no set amount, but the coverage must be for an amount that is equal to or greater than the highest daily balance for all resident personal funds held on deposit.
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.