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Maine Receiver Bond

June 11, 2020

The Maine receiver bond is a court-mandated surety bond required during the dissolution of a business entity, and when clients or residents are being transferred from a facility as outlined below. Please call AmeriPro Surety Bonds at 844-589-9732.

Maine Receiver Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Receiver Surety Bond; Purpose

 

 

 

Under Maine’s Revised Statutes, Chapter 14: Dissolution, §1432, it states that when a business entity is in the process of being dissolved, the appointment of a receiver is needed to “...wind up and liquidate the business and affairs of the corporation.”

A condition of appointment as receiver is that a surety bond be obtained “...in an amount the court directs.”

A second condition in which a receiver is appointed is for a resident facility whose clients and residents must be moved. This is detailed under Maine Revised Statutes Chapter 13: Appointment of Receivers.

In both cases, the purpose of the surety bond requirement is to serve as a financial guarantee that all directives of the court will be followed; and, that, more generally, the receiver will act in an objective, disinterested capacity in the discharge of his or her responsibilities.

 

 

 

Qualifying and Issuance

 

 

 

Our agency provides the Maine receiver bond in any amount required of you by the Court. Up to and inclusive of a $100,000 surety bond requirement, we also do so without a credit check inquiry.

Regardless of the amount of your ME receiver bond, we’ll need the following from you:

  • A copy of the Court order which states that a receiver surety bond is required;
  • A completed, signed and witnessed surety bond application. The application is short;
  • For amounts greater than $100,000, after submitting your application, a review by a surety bond underwriter. To be approved for these higher amounts, good credit is required;
  • Payment of the premium.

Once your receiver surety bond is approved and payment made, it is issued to you immediately and mailed by the following business day.

Along with your bond will be a Power of Attorney from. Upon receipt, you’ll sign your receiver surety bond as Principal and then file all documents received to the Maine court.

 

 

 

Annual Renewal of the Premium

 

 

 

The premium associated with your receiver bond is not a onetime payment, but renews annually for as long as the Court requires surety.

Both statutes make an allowance for expenses incurred by the receiver; however, you may wish to determine with the Court if these expenses include the premium for your receiver surety bond.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Maine and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a surety agent will contact you...

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