Louisiana Home Service Contract Provider Bond

A surety bond filed with the Louisiana Department of Insurance for Home Service Contract Providers operating in the state. The surety bond obligates the principal to faithfully discharge and perform the duties pursuant to provisions of Titles 22 and 23 of the Louisiana Revised Statutes and all other applicable laws. The bond amount must be not less than five percent of the gross consideration received, less claims paid, on the sale of all service contracts issued and in force, but the minimum bond amount required is $25,000.