Can an Attorney Hold Funds in Escrow as Collateral for a Bond?
Recently I was contacted by a client and the discussion was whether or not a surety bond company would allow an attorney to hold cash in their attorney escrow as collateral for a bond. Ten to 15 years ago, this used to be a common practice. The reason why was because...
Money Transmitter Bonds
Money transmitter bonds are required in various states for entities that obtain licenses to transmit money. Generally, these bonds are looked at as not risky, but given what’s happening in the banking sector and the cryptocurrency market, a lot of surety markets...