Mississippi Title Pledge Act Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
Mississippi title pledge lenders are engaged in the business of providing short term loans — no longer than 30 days — in exchange for signing over title for the loan as sufficient collateral.
At least one $50,000 surety bond is required as a financial guarantee of your compliance with all relevant provisions of the Mississippi Title Pledge Act, as amended.
Your surety bond, furthermore, guarantees prompt and timely payment of any judgments rendered against your business for violations of the Act.
Current regulations mandate a surety bond of at least $50,000, with an additional $50,000 requirement per location of your business; however, the maximum surety bond requirement will not exceed $250,000.
Qualifying and the Premium
Our agency approves you immediately for the $50,000 Mississippi title pledge act bond. We offer this surety bond without an underwriter review of your application and without a credit check.
What this means for you is that you are automatically approved for the bonds that you require.
We also provide a separate $50,000 surety bond for each of your business locations which requires evidence of surety.
We’ll take the application from you directly by phone. Our questions will be very basic:
- The name of your business, as it should appear on your bond;
- Your contact information, including a business phone number and email address;
- The address of the particular business location for which the bond is affording coverage;
- Payment of the premium.
The premium is $500 for each year; however, the premium may be prorated. This is because the fiscal term – and the renewal date of your surety bond — is June 30th.
Once we receive payment of the premium, our agency issues your bond and a Power of Attorney form to you immediately.
We will notarize your bond as Surety; upon receipt, you’ll have your bond notarized as Principal. You will then file your completed surety bond and POA form to:
State of Mississippi
P.O. Box 1383
Jackson, MS 39205
Premium Prepayment Options
Assuming a full year term – June 30th through June 30th — you may prepay, for 2 or 3 years, each of your title pledge act surety bonds with the following premium and savings:
- If prepaid for 2 years, the premium is $900, a $100 savings;
- If prepaid for 3 years, the premium is $1300, a $200 savings.
AmeriPro Surety Bonds is a surety bonds-only agency which provides probate, license and permit, and other surety bonds in Mississippi and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will assist you…