Louisiana Proprietary School Bond |
AmeriPro Surety Bonds | 844-589-9732
Proprietary Schools – Louisiana
Louisiana defines proprietary schools as:
- Schools which do not grant degrees;
- Schools which are open to the public and offer vocational and or occupational training;
- Schools whose main focus is to ultimately provide students with employment or a career.
The state’s Board of Regents is the government agency entrusted with the licensing and regulating of proprietary schools.
Whatever the structure of your business (LLC, partnership, corporation, etc.), you are also required to furnish a $10,000 surety bond.
Obtaining the surety bond takes about 5 minutes with our agency.
Qualifying and The Premium
You are already approved for the $10,000 Louisiana proprietary school bond.
Qualifying is by the completion of a surety bond application, which can be taken over the phone with an agent, and payment of the $100 premium.
Thereafter, the bond is issued to you immediately. At your request, a copy of the surety bond can be sent to you by email. The original surety bond, which you will need to sign as Principal, will follow in the mail by the following business day.
Note that there is no underwriter review nor credit inquiry for the proprietary school surety bond.
Additional Premium Payment Options
The $100 premium gives you this surety bond for a one year term. Because of the bond’s low price, you may wish to consider prepaying the bond for 2 or 3 years. Besides increasing the time between your bond renewal, prepayment also gives you a savings over year to year renewal of the bond premium.
The premium payment options (and savings) are as follows:
- Prepayment for 2 years, $180, a $20 savings:
- Prepayment for 3 years, $260, a $40 savings.
The Purpose of Your Surety Bond
The surety bond is a financial guarantee for your students. They are protected against:
- Fraud or malfeasance which is used to get students to enroll in a licensed proprietary school;
- Breach of contract by the Principal (i.e. the proprietary school) in relation to students;
- The inability of a student to complete courses due to inadequate facilities, or a school which goes out of business;
- The failure of a school to maintain adequate student records.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Louisiana.
Our agency also provides surety bonds nationwide.
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