California Dance Studio Bond |
AmeriPro Surety Bonds | 844-589-9732
California Dance Studios:
Whether it be ballroom dancing, line dancing, or far more modern forms of this art of expression, in California, dance studios are regulated by the California Secretary of State.
The provisions which govern dance studio apply to both groups and individuals.
Extent of Contract:
Persons who join dance studios for the purposes of learning this art form are required to be given a contract in writing.
Financing of the membership at a dance studio may not exceed one year. It also may not be measured by the life of the contract buyer.
Contracts for dance studios must also begin no later than 6 months from the date that the contract is signed.
Additionally, contracts for dance studios must clearly spell out the rate per hour the buyer is being charged. If there are different rates for different activities, these must be made clearly known in the contract as well.
If the buyer of a membership at a dance studio either becomes disabled or dies before the end of any contract which has been prepaid, upon notification to the dance studio, any and all lessons which have been unused must either be returned to the buyer or the representative of the buyer if the buyer is deceased.
The return of these funds must be issued immediately.
Buyers who cancel their membership after having signed a contract must be given a refund of any unused portion of their membership on a pro rata basis.
This information regarding dance studio obligations to customers is not all encompassing, and you will want to familiarize yourself with the complete rules and regulations.
Any attempt to waive these stipulations by a buyer is considered invalid.
Dance Studio Surety Bond
Besides all of the above, dance studios contracts are required to state that there is an active surety bond which has been purchased.
The California Secretary of State requires that dance studios purchase a surety bond and have the bond filed with its office (the filing fee is $30).
The bond is designed to protect the buyers of dance studio services from acts of fraud, dishonesty, or failure to provide the services agreed to.
Amount of Dance Studio Surety Bond
A California dance studio surety bond will be in one of two amounts:
The minimum amount for a dance studio bond is $25,000.00
25% of the dance studio’s gross income in the prior fiscal year;
whichever number is greater.
Additionally, dance studios must sign a form, under penalty of perjury, that the amount they state as to earnings to the California Secretary of State is true.
Getting your Dance Studio Bond:
When you speak with us at AmeriPro Surety Bonds, we will help you to quickly fill out the application for your dance studio surety bond.
The amount — again with a minimum amount of $25,000 — of the dance studio surety bond will be determined by you.
Bear in mind that you will have to report the gross earnings for the prior fiscal year when filing you bond, under penalty of perjury.
Cost of a Dance Studio Bond:
The cost of your dance studio surety bond will depend on two main criteria:
- The dollar amount of the surety bond (i.e. $30,000 surety bond)
- your credit score.
For those with good credit, the surety bond will be a small percentage of the bond amount, perhaps in some cases of 1-5%.
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