Kansas Proprietary School Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond Requirement And Its Purposes
The Kansas Board of Regents requires proprietary schools, defined as institutions which offer instructions for:
- business trade;
- occupational or industrial entities;
- or which offer degrees
To obtain a $20,000 surety bond as a condition of licensing. The surety bond is required pursuant to the Kansas Private and Out-of-State Postsecondary Educational Institution Act 74-32, 175, as amended.
The purpose of this surety bond requirement is to serve as a financial guarantee that you will make available to the Board an accounting of all students who are registered in your school at the time of its closure; or who were registered at your school before its closure.
Qualifying and the Premium
Approval for the $20,000 Kansas proprietary school bond includes completing a short surety bond application, and having the application reviewed by an underwriter.
Our agency can begin the application with you by phone; however, you’ll need to complete, sign, and have witnessed (although it does not need to be notarized) your application.
The underwriter review includes a credit check inquiry. To be approved by our agency, good credit is required.
Approval for this $20,000 surety bond is offered at 1%, $200 annually.
Upon approval of your bond and payment of the premium, our agency issues your bond and a Power of Attorney form to you. Our agency signs your bond as Principal; you’ll sign it as Surety.
You will then file all surety bond-related documents to:
State of Kansas
Board of Regents
1000 S.W. Jackson Street
Topeka, KS 66612
Premium Prepayment Options
The premium for your Kansas private school surety bond renews annually. You may also choose to prepay your premium up to 3 years.
Prepayment of the premium offers you a savings over annual renewals, besides lengthening the time between those renewals.
The premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $360, a $40 savings;
- If prepaid for 3 years, the premium is $520, an $80 savings.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Kansas and all 50 states.
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