Spousal Interest in my LLC

[Bond Guy]

I am 30% owner of an LLC and I understand the spousal indemnification for a bond. I do NOT want my wife signing anything for this bond. Is there any way at all around having her sign?

[Bond Magician]

Originally Posted by Bond Guy

I am 30% owner of an LLC and I understand the spousal indemnification for a bond. I do NOT want my wife signing anything for this bond. Is there any way at all around having her sign?

The only way around having to have your wife sign the indemnity agreement is if you have a pre-nuptial agreement. Basically, your spouse benefits -whether the business is doing well or not.

[Bond Guy]

I just spoke to a Surety Company that said they would not need my wife's signature if i posted some collateral. Is that something your company could do?

[Bond Magician]

Originally Posted by Bond Guy

I just spoke to a Surety Company that said they would not need my wife's signature if i posted some collateral. Is that something your company could do?

Yes, I believe it is something that we have done in the past. It really varies depending on each situation and what the surety company is requiring.

[Surety Queen]

Originally Posted by Bond Magician

Yes, I believe it is something that we have done in the past. It really varies depending on each situation and what the surety company is requiring.

If you are prepared to post 100% collateral, we can probably help you. Call our office to speak with a specialist to see if we can.

[Surety Wizard]

I have been doing my research with a few Surety Companies and I have found a company that will not require a spouse to sign. They do not require any collateral at all as long as the other owners of the company have a spousal signature. Do you know of any companies that would do this?

[Bond Magician]

Originally Posted by Surety Wizard

I have been doing my research with a few Surety Companies and I have found a company that will not require a spouse to sign. They do not require any collateral at all as long as the other owners of the company have a spousal signature. Do you know of any companies that would do this?

It really depends on the situation. As was mentioned before, a Surety company will not require spousal indemnity if there is a pre-nuptial agreement signed. Best to contact your agent and discuss further with them.

[h2o]

What if the bond is for a non-profit organization... we would be putting up a couple of officers willing to indemnify. Would their spouses need to still need to sign?