The Kansas Resident Fund Bond is required by the State of Kansas, Department of Aging. Completed bonds are to be sent to the Bureau of Adult and Child Care (Health and Environment).
The bond states that the applicant shall:
- Hold separately and in trust, all residents’ funds deposited with the Principal.
- Administer funds on behalf of residents in the manner directed by federal and state law.
- Upon termination of each deposit, account for all funds received, expended and held on hand.
- Fulfill its obligations pursuant to 42 CFR 483.10.
Surety1 can write this bond instantly with just a filled out application!
What is the purpose of a Kansas Resident Fund Bond?
The surety bond is assurance of Financial Security. It protects residents who choose to deposit their personal funds with the facility.
The surety bond is an agreement between three parties, the principal, which is the residential facility, the obligee which is the state, and the surety. If the resident facility violates the rules and regulations of the state, the surety company will issue a payout which the principal will reimburse to the surety company.
Why should I choose Surety1 for my Kansas Resident Fund Bond?
Here at Surety1, you not only get fast and reliable service, you also get the lowest rates in the market. We have partnered with several A-rated companies in order to get you the best rates.
To apply, complete our online application form. One of our surety experts will contact you shortly with a quote for the bond. Once you decide to proceed with us, you would pay the bond premium and sign the agreement. We will send you the bond via USPS Priority Mail.
Surety1 has been issuing surety bonds since 2003 and we are licensed in all 50 states. We continue to maintain an A+ rating from the Better Business Bureau for our excellent customer service.