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Georgia Nonpublic Postsecondary Educational Institution Bond

What is a Georgia Nonpublic Postsecondary Educational Institution Bond?

The surety bond is required by the State of Georgia for those businesses operating as Nonpublic Postsecondary Educational Institutions defined in the 'Nonpublic Postsecondary Educational Institutions Act of 1990," O.C.G.A. ยง 20-3-2.50.1, et. seq., and authorized by and in conformity with the provisions of the Act and all rules and regulations promulgated by the Nonpublic Postsecondary Education Commission. The surety bond may be used for the benefit of any person or governmental subdivision of the State of Georgia, or any student or enrollee or his or her parent or guardian suffering expense or damage due to the bonded principal's breach of the terms of the bond.

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Nonpublic Postsecondary Educational Institution Bond

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Why is a Georgia Educational Institution Bond Required?

The surety bond protects those violated by the institution or any of its officers, agents, or employees against all damages or expenses which the State, or any governmental subdivision, or any person may sustain resulting from any violation of the terms of the surety bond. The aggregate liability of the Surety shall not exceed the sum amount of the required bond on all breaches of the condition of the bond.