Ohio Receiver Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose And Amount
An Ohio receiver may be appointed by a court or state supreme court to handle matters relating to a mortgage; enforcing rental agreements; fraudulent acquisition of property, and other matters as outlined in Ohio Revised Code 2735.01, as amended.
As a condition of your appointment as receiver, you are required by 2735.03 of the Revised Code to obtain a bond in the amount that the court directs.
The purpose of the surety bond is to serve as a financial guarantee for the court and all parties involved that you will lawfully perform the fiduciary responsibility to which you have been appointed.
Qualifying and the Premium
Our agency offers the Ohio receiver bond in whatever amount that the court requires; and up to a $250,000 requirement, we also provide this bond to you without a credit check inquiry.
A receiver bond greater than $250,000, if applicable, will require an underwriter review of your surety bond application along with a credit check inquiry. To be approved for these greater amounts, good credit is required.
To issue your receiver surety bond, our agency will need the following from you:
- A copy of the court order and minutes which states that the receiver bond is required, your appointment as such, and the amount of surety required;
- A signed and completed surety bond application. The application may be sent to you via DocuSign to facilitate ease of completion;
- Review of your application and approval subject to the thresholds mentioned above;
- Payment of at least the first annual premium.
Once the premium for your bond is received, our agency issues your bond to you immediately. Included with your receiver bond will be a Power of Attorney form.
You will sign your bond as Principal, filing it along with the POA to the presiding court.
Annual Renewal of the Premium
The premium for your Ohio receiver bond renews annually for as long as the court requires surety on the anniversary of its issuance.
Premiums paid are earned in full, with no refund offered, either prorated or in full.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Ohio and all 50 states.
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