Sole-Proprietor or Corporation?

[Harley]

Does it make a difference if I apply to be bonded while being a Sole-Proprietor as opposed to a Corporation? Or doesn't it matter?

[Phillies]

Originally Posted by Harley

Does it make a difference if I apply to be bonded while being a Sole-Proprietor as opposed to a Corporation? Or doesn't it matter?

You want to apply for the bond under whatever you are. However, if you apply as a sole-proprietor and then become a corporation after your bond has been issued, most Surety companies will allow a rider to be issued changing your company name. You will undoubtedly be required to execute a new General Indemnity Agreement under the new name.

The important thing is to apply under whatever name the state will have you licensed as. If the bond and your license differ, the state will reject it.