
I noticed that the expiration date on my bond form must be December 31st. Why is that? Why can't it just be a regular one year term?
In some cases the State has their own required expiration dates for particular bonds. In this case, at each renewal - as long as your premium is paid in full - a continuation certificate will be issued to you (the principle) and the State (or obligee) showing that your bond is still in full force and effect.
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