Louisiana Pawnbroker Bond
AmeriPro Surety Bonds | 844-589-9732
Pawnbroker Surety Bond & Its Purpose
Pawnbrokers in Louisiana are regulated by the state’s Office of Financial Institutions, Non-Depository Division.
Louisiana pawnbrokers who do not provide evidence of verifiable net assets of at least $50,000, must instead provide a $50,000 surety bond as evidence of financial responsibility.
The surety bond is required as a financial guarantee of your compliance with the Louisiana Pawnshop Act, and is a pledge of your compliance with all laws and regulation involved in operating a pawnshop.
Title 37 of the Louisiana Revised Statutes provides legislation concerning your profession.
Qualifying and the Premium
Qualifying and being approved for the $50,000 Louisiana pawnbroker bond includes completing a short surety bond application — which we’ll go over with you by phone –- but which also requires your signature and also that of a witness.
After returning your completed surety bond application to our agency, it is reviewed by an underwriter. The review includes a credit check inquiry.
To be approved, good credit is required, and the approval rate is ¾ of 1%, $375 annually.
Upon approval of your bond and payment of the premium, your surety bond and a Power of Attorney form are issued to you immediately. We also offer NMLS processing for those who request it.
Those who are filing their surety bond by mail will send it to:
State of Louisiana
Office of Financial Institutions
P.O. Box 94095
Baton Rouge, LA 70804
Premium Prepayment Options
Your pawnbroker bond is issued for one year, but may be prepaid up to 3 years. Besides lengthening the time period between renewals, prepayment of your premium offers you a savings over annual renewals.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $675, a $75 savings;
- If prepaid for 3 years, the premium is $975, a $150 savings.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Louisiana and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…