A Louisiana Notary Surety Bond is a type of surety bond required by the Louisiana Secretary of State for all commissioned notaries public. This bond protects the public from any damages caused by the notary’s negligence, malfeasance, or fraud in the performance of his or her duties. The bond must be in the amount of $10,000 and be issued by an authorized surety company. The bond must be renewed every four years. There are two types of Louisiana Notary Surety Bonds: An Individual Notary Surety Bond and a Blanket Notary Surety Bond. The Individual Notary Surety Bond provides coverage only for the notary who has taken out the bond. The Blanket Notary Surety Bond provides coverage for all notaries who are employed by a particular business.
Louisiana Notary Surety Bond
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Notary Surety Bond
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Surety bonds are one of the most common legal documents that are used to protect consumers against damages that they can incur from negligent businesses. Louisiana surety bonds are issued across many different industries to protect consumers against damages, and businesses against costly claims from their customers.
Surety Bond Requirements The bond must be issued by an insurer admitted to write surety business in Louisiana. Each bond must be executed on the form provided by the LDI. The original bond must be filed with the LDI. Each bond must provide for a cancellation notice of not less than thirty day.
Your Louisiana Notary Surety Bond. Louisiana law requires all Notaries to purchase and maintain a $10,000 Notary surety bond or errors & omissions insurance (E&O) every five years.
How much does it cost? The state application fee is $35, Notary Exam Pre-Assessment costs $30 and Notary Public Exam registration costs $100. To find the list of fees charged by the Louisiana Secretary of State, click here. The cost of your $10,000 bond or E&O will vary based on the vendor you choose.
A $7,500, 4-year notary bond in the state of Florida costs $40 through Notary Public Underwriters.
What Do Louisiana Surety Bonds Cost? Surety bonds generally cost 1-15% of the required bond amount. Costs vary significantly depending on the bond amount you need and your rate (which is the percentage of the full bond amount you must pay).
