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Nursing Facility Resident Trust Fund Bond

Nursing Facility Resident Trust Fund Bond

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Who Requires the Nursing Facility Resident Trust Fund Bond and Why Is It Needed?

A Nursing Facility or Resident / Patient Trust Fund Bond is required by long-term care facilities, including nursing homes and assisted living facilities, along with businesses that offer at-home care. The surety bond protects long-term care patients and their families by ensuring that the facility complies with state laws and regulations, and administers patient trust funds in an ethical and financially responsible manner. The surety bond is obligated per Section 483.10(c)(7) of the Code of Federal Regulations for operators of long term care facilities to ensure faithful security for all personal funds of residents deposited with the facility. Assurance of compliance with this obligation rests with the state of domicile of the facility. The surety bond is conditioned upon proper safeguarding and accounting for all funds of residents of the facility which are deposited with the principal while this bond is in effect.

How Much Will My Surety Bond Cost?

Some Nursing Facility Resident Trust Fund Bonds are offered completely online without a credit check or any paperwork. Surety Bonds Direct has access to the lowest bond prices available in the market for applicants with good credit and bad credit.

It only takes a couple minutes to provide us with the information required for a free, no-obligation quote. Or if you prefer, 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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