Michigan Receiver Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
Appointed receivers in a bankruptcy, reorganization, or dissolution of a legal entity are empowered to act in the name of the business; make payments; receive payments, and, in general do whatever the presiding Court permits and requires.
In Michigan, the bond requirement of a receiver is statutorily indicated in Section 600.2926.
The purpose of this surety bond is to serve as a financial guarantee that you will perform your duties in an objective, disinterested manner; and that, moreover, you’ll follow all laws and directives of the court in the manner prescribed.
The amount required of a receiver will be determined by the court in an amount the court deems sufficient.
Qualifying, and the Receiver Surety Bond Premium
Our agency can provide the Michigan receiver bond in whatever amount the Court requires, and if you otherwise qualify.
Up to a $250,000 surety bond requirement, we also provide the receiver bond without a credit check inquiry.
Amounts greater than $250,000, if applicable, do require both an underwriter review of an application, along with a credit check inquiry. Approval for these larger amounts requires good credit, as well.
Regardless of the amount of the receiver bond, our agency will need all of the following from you:
- A copy of the copy of the court order appointing you (or the person whom you represent) as receiver. This order will also provide us with other information which will be included on your bond. This is the first item needed;
- A completed, signed, and witnessed surety bond application. The application itself is relatively short. The witness to your signature does not need to be notarized;
- If applicable, review and approval of your surety bond as required (see above);
- Payment of at least the first annual premium.
Once your receiver surety bond is approved and the premium paid, our agency issues your bond to you immediately.
We will sign your surety bond as Surety; you will sign it as Principal. It will then be your duty to file your bond with the presiding Court.
Annual Renewal of Your Premium
The premium associated with a Michigan receiver bond is not a onetime payment; rather, the premium renews annually for as long as the Court requires surety.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Michigan and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…