Oklahoma Health Spa Bond
Oklahoma Health Spa Bond Information
A Health Spa Registration Bond is a surety bond required by the Administrator of the Department of Consumer Credit of the State of Oklahoma for those operating health spas, clubs, gyms, and other registered fitness facilities in the state of Oklahoma in accordance with the Oklahoma Health Spa Act.
The state defines a "Health spa" as any person, firm, corporation, organization, club or association engaged in a program of physical exercise including sale of the right or privilege to use exercise equipment or facilities such as saunas, whirlpools, weight-lifting rooms, massage, steam rooms, or exercising machines or devices. A surety bond is required for the businesses charging more than $50 initially or if a contract for membership exceeds six months. The amount of the surety bond is based on the number of members and the minimum amount of the bond is $30,000.
What does a Health Spa Bond Protect Against?
The health spa surety bond is required by the Oklahoma Health Spa Act and ensures that the bonded principal will faithfully comply with state statutes and all other rules and regulations pertaining to ethical business conduct.