(844) 589-9732

Minnesota Receiver Bond

July 14, 2020

The Minnesota receiver bond is offered to you in any amount required; and up to a $250,000 surety bond requirement, we also do so without a credit check inquiry. Please call AmeriPro Surety Bonds at 844-589-9732.

Minnesota Receiver Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Surety Bond; Purpose

 

 

 

As a court-appointed receiver, you are empowered to oversee the affairs of a business or entity that is going through a dissolution or legal reorganization.

Your duties are wide and all encompassing. These include, in accordance with Minnesota statutes, filing an annual inventory of the estate or business over which you have been appointed, and providing a listing of the proceedings to date.

According to Minnesota Rule 137.03, you are also required to purchase a surety bond as a condition of your appointment.  The amount of surety is not pre-determined; it will be in accordance with the value of the estate or business, as the court determines.

The purpose of your surety bond is to provide a financial guarantee to the court and any owners or shareholders that you will perform your duties objectively, disinterestedly, in accordance with the law, and as the court directs.

 

 

 

Qualifying and the Premium

 

 

 

Our agency can provide you with the Minnesota receiver bond in any amount that the court requires.

Up to a $250,000 surety bond requirement, we also do so without a credit check inquiry. What this means for you is that up this requirement, your application will automatically be approved.

A Minnesota receiver bond greater than $250,000 will require review by an underwriter. A credit inquiry is also standard. To be approved through our agency for these greater amounts, good credit will be required.

Regardless of the amount of your MN receiver surety bond, our agency will need the following from you:

  • A copy of the Court Order appointing you as a receiver. We’ll need this order because it provides us with many of the details which will be included on your surety bond;
  • A signed, completed, and witnessed surety bond application. We’ll begin the application with you by phone, filling in many of the details with you;
  • Upon approval of your surety bond, payment of at least the first annual premium.

Our agency issues your bond and a Power of Attorney form to you immediately for mailing. We will sign your bond as Surety; upon receipt, you’ll sign it as Principal.

It will be up to you to file all completed surety bond documents with the Court.

 

 

 

Annual Renewal of Your Premium

 

 

 

Your receiver surety bond renews annually for as long as the Court requires surety. Options exist to prepay your bond up to 3 years which offers you a savings over annual renewals.

However, premiums paid are earned in full even should your bond be exonerated.

 

 

 

About Us

 

 

 

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

Please call our agency today at:

 

844-589-9732

 

Or, you fill out the form below and a Surety Agent will contact you...

 

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