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Thread: Ownership

  1. chefman
    chefman is offline Member
    Join Date
    May 2007
    Posts
    59

    Ownership

    I have a small mortgage company that is owned by three people. One of our owners is getting close to filing bankruptcy due to a divorce situation. How will this effect our bond renewal premium for the next year?
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  2. Admin
    Admin is offline Administrator
    Join Date
    Jan 2005
    Posts
    755

    It depends on the bonding company. Some sureties require updates on their renewals, while others will renew a bond without any additional underwriting.
    Surety Bond Articles
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