Mississippi Patient Trust Fund Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
Nursing home facilities in Mississippi are statutorily required by the state to obtain a surety bond as a condition of licensing.
Your surety bond must be in an amount that is equal to or greater than the highest daily balance for all patient funds held by your facility (Title 23: Medicaid, Part 207, Long Term Institutional Care, page 75 of 2020 edition).
The surety bond is for the benefit and the protection of your patients and serves as a financial guarantee, on their behalf, that all deposited funds will be handled according to Mississippi law.
Maintaining Your Bond
According to Mississippi law, in addition to the bond the original bond to be filed with the state, you’ll need to have a ready at hand copy of your surety bond documents in your office should they requested for review.
Qualifying and the Premium
Our agency offers you the Mississippi patient trust fund bond in any amount that you are required to purchase. Up to a $50,000 surety bond requirement, we also do so without a credit check.
What this means is that these amounts are approved and the bond can be issued to you within minutes.
A patient trust fund bond greater than $50,000 is handled in the following manner:
- A completion of a short surety bond application. You will need to be both sign and have witnessed your application before consideration;
- Review by an underwriter. A team of professional surety bond underwriters reviews your application;
- A credit score inquiry. The review process includes a credit score check. Approval is on the basis of good credit; our agency will not get you approved otherwise.
Once your surety bond is approved and the premium is paid, our agency issues your bond to you immediately and then mails it to you for signing and filing. Included with your surety bond will be a Power of Attorney form.
Our agency signs your original surety bond as Surety; upon receipt, you’ll sign your bond and file it as Principal.
Your nursing facility patient trust fund bond is issued with a standard term of one year.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, fiduciary, and other license and permit bonds in Mississippi and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you…