According to the Nevada Secretary of State, an individual who engages in document preparation service provides assistance in certain legal matters for compensation including:
The surety bond may be issued to an individual performing document preparation service, or may be issued to a business entity performing document preparation services in Nevada. If the surety is held by a business entity, neither its principals, employees, nor independent contractors are required to post a separate bond covering document preparation services performed by any such principal, employee, or independent contractor, so long as they are covered by the business entity’s surety bond. The bond must clearly state who is covered.
The definition of “document preparation service” is expanded to include:
Nevada Revised Statutes Chapter 240A.120 states that any person wishing to engage in the business of document preparation service must file a surety bond with the Secretary of State in the amount of $50,000.
In compliance with Nevada Revised Statutes Chapter 240A.120, the surety bond protects any client who has suffered damage as a result of fraud, dishonesty, negligence, or wrongdoing by the document preparation registrant or any of his or her agents or employees. The bond also protects clients from the wrongful failure or refusal by the registrant to provide services in accordance with their contract. Under this bond, the Secretary of State is also protected and is guaranteed payment for any civil penalty or award of attorney’s fees or costs of suit owing and unpaid by the registrant, pursuant to Nevada Revised Statute Chapter 240A.120.
The Nevada Document Preparation Bond is continuous in nature; therefore, the bond remains in full force and effect until cancelled. The bond may be cancelled at any time with 30-day written notice to the Secretary of State. However, the Office of the Secretary of State must receive proof of annual bond renewal.
All fees are required by the obligee, not the Surety Company.