In Minnesota, gambling organizations are required to be under the supervision of a “gambling manager”. The Minnesota Gambling Control Board regulates the licensing of managers. The requirements for the licensing of a gambling manager are found on the state’s website. Our agency makes meeting the surety bond requirement easy and it will only take a few minutes of your time.
Required by statute, the Minnesota gambling manager bond is a $10,000 surety bond. Qualifying involves merely completing an application (which can be done over the phone), and payment of the $100 annual premium. Thereafter the bond is issued to you immediately. There is no credit inquiry or underwriting for this surety bond.
This surety bond is issued with a standard term of one year. Thereafter, the bond renews. You have the option of prepayment of your gambling manager surety bond for 2 or 3 years. Prepayment allows you to save over year to year renewal of the bond. The breakdown for prepayment is as follows: Once selected and paid, there are no refunds for any payment option amounts.
Simply stated, the purpose of the gambling manager surety bond requirement is a financial guarantee which ensures that you will observe all laws related to the profession. As a reminder, a gambling manager cannot be the manager for more than one organization; an organization cannot conduct gambling without a gambling manager; and a gambling organization cannot have more than one manager at the same time.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Minnesota. We also provide surety bonds nationwide. Please call us today at:
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