New Hampshire health clubs are licensed and regulated by the state’s Department of Justice, Office of the Attorney General.
If your health club business is required to obtain a surety bond, according to current state regulations, the surety bond amount is $50,000.
Qualifying for the $50,000 New Hampshire health club bond requires:
Good credit is required and the premium upon approval is 1%, $500.
Once the premium is paid to our agency, your health club bond is issued to you immediately. The original bond, which you will sign as Principal, and the Power of Attorney form will be sent to you for filing.
At $500 premium, the New Hampshire health club bond is issued to you for one year and will renew on the anniversary of its issuance. The option exists to also prepay your bond for up to 3 years. Prepayment of the premium saves you over annual renewals, besides lengthening the time between renewals.
The premium prepayment option and savings are as follows:
While this surety bond is required of your health club, its purpose is for those who purchase membership, your patrons. The most succinct reason for your bond is that as found on the Attorney General website which is: The New Hampshire health club bond is a financial guarantee for those who pay in advance for memberships in case the health club closes.
Statute 358-I (which is also a subtitle of your surety bond) gives more details in that it states that your bond protects those who purchase a membership and lose money due to a breach of contract or any other obligations which arise from the contract.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide health club surety bonds nationwide. Our company also provides license and permit bonds in all 50 states.
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