(844) 589-9732

Montana Receiver Bond

August 17, 2020

A Montana receiver bond is required as a condition of a court appointment for businesses which are undergoing dissolution or reorganization. Up to a $250,000 requirement, our agency offers this surety bond to you without a credit inquiry. Please call AmeriPro Surety Bonds at 844-589-9732.

Montana Receiver Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Surety Bond; Purpose

 

 

 

Receivers in a court proceeding regarding the dissolution or reorganization of a business entity are tasked with important fiduciary responsibilities. These duties will be specifically spelled out for you by the presiding court.

As a financial guarantee for the all parties involved, and to the satisfaction of the court, you may be required to obtain a surety bond. The surety bond serves as a financial guarantee that you will act in a disinterested manner in your managerial duties, and that you will follow all directives of the court.

There is no preset amount for a receiver bond; it is, as Montana Code Annotated 35-1-941 states, “...in an amount the court directs.”

 

 

 

Qualifying and the Premium

 

 

 

Our agency provides the Montana receiver bond in whatever amount required of you. Up to and inclusive of a $250,000 requirement, we also do so without a credit check inquiry.

Amounts greater than $250,000, if applicable, will require review by an underwriter. This review will include a credit check inquiry; and to be approved for these higher amounts, good and satisfactory credit will be required.

Regardless of the amount of receiver surety bond required of you, we’ll need the following:

  • A copy of the court order which names you as receiver and states the amount of surety bond required;
  • A completed and signed surety bond application. The application will be sent to you by DocuSign, facilitating easier fulfillment of this responsibility;
  • Upon approval of your receiver bond by our underwriters (if greater than $250,000), or completion of all documents required for an amount $250,000 or less, payment of at least the first annual premium.

Once the premium is received for your Montana receiver surety bond, our agency sends you an original surety bond and Power of Attorney form.

We will have signed your bond as Surety; upon receipt, you’ll sign your bond as Principal. It will then be your responsibility to file your completed surety bond and POA form with the presiding court.

 

 

 

Annual Renewal of the Premium

 

 

 

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

Your bond will renew annually on the anniversary of its issuance for as long as the court requires surety.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Montana 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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