The Kentucky Surety Information Sheet is a document used by the Kentucky Department of Insurance (TDI) to provide surety companies with information about the financial condition of an insurance company. This form is used to ensure that the surety company has adequate capital and surplus to meet the financial obligations of their surety bonds. The Kentucky Surety Information Sheet also provides a listing of all surety bonds issued by a company, the amount of the bond, and the expiration date. There are two types of Kentucky Surety Information Sheet: the Annual Statement and the Interim Financial Report. The Annual Statement provides a snapshot of the company’s financial condition at the end of the fiscal year, while the Interim Financial Report provides an update of the company’s financial condition throughout the year. Both forms require the company to provide financial statements and other financial information that is used by TDI to assess the company’s ability to meet its obligations.
Kentucky Surety Information Sheet
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How to fill out Kentucky Surety Information Sheet?
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FAQ
A $50,000 surety bond is required by the Kentucky Department of Financial Institutions for all mortgage brokers doing business in the state. It gives consumers a measure of protection from fraudulent and illegal acts by compensating them in the event of wrongdoing by the broker.
Filed when a property owner pledges his property as surety to secure the release of a prisoner from jail. Once the property bond has been filed the Commonwealth of Kentucky has a lien on the property.
A: Surety bonds provide financial guarantees that contracts and other business deals will be completed ing to mutual terms. Surety bonds protect consumers and government entities from fraud and malpractice. When a principal breaks a bond's terms, the harmed party can make a claim on the bond to recover losses.
What Do Kentucky Surety Bonds Cost? Surety bonds generally cost 1-15% of the required bond amount.
How Do I Get a Surety Bond in Kentucky? The principal researches the type of bond needed, and applies for that kind of bond with a surety company. The surety company prepares an agreement of indemnity and returns it to the principal.
How do I receive my bond? Kentucky bonds purchased from the NNA are emailed in most most counties (bonds are mailed in Blount County). If you need your bond expedited, we offer Overnight & 2-Day Delivery. Simply call 1-800-876-6827 and we will assist you with any expedited shipping request.
