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Michigan Proprietary School Bond

Michigan Proprietary School Bond

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Who Requires the Proprietary School Bond and Why Is It Needed?

A Proprietary School Surety Bond is required in Michigan for those planning to open and operate a private trade school, business school, institute, or correspondence school under the provisions of Public Act 148 of 1943. The obligee, or requiring agency, for the surety bond is the Michigan Licensing and Regulatory Affairs Bureau of Commercial Services, Licensing Division Proprietary Schools Section. The amount of the surety bond required for each applicant varies and should be verified with the state prior to requesting a quote. This amount is based upon the total fees paid to the institution by the students who have not completed their courses. The surety bond covers any student suffering financial damages resulting from an inability to complete a course or program of study due to the institution closing.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Michigan Proprietary School Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.




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