Surety Bond Requirements

Certain types of licenses issued by the LDI require that the licensee maintain a surety bond.  All of those bonds are required to meet certain standards to be acceptable.

• The bond must be issued by an insurer admitted to write surety business in Louisiana
• Each bond must be executed on the form provided by the LDI
• The original bond must be filed with the LDI
• Each bond must provide for a cancellation notice of not less than thirty day
• A continuation certificate for the bond shall be provided to the LDI annual no less than ten days prior to the expiration

 Below is a list of the various license types which require or allow a surety bond as a statutory deposit or evidence of financial responsibility and the statutory citation for the requirement.  The LDI has developed a multi-use form for all of these licensees. Click here for a copy of that form.

Third Party Administrator (La. R.S. 22:1651 I)

Vehicle Mechanical Breakdown Insurer (La. R.S. 22:365)

Property Residual Value Insurer (La. R.S. 22:385)

Public Adjuster (La. R.S. 22:1701)

Statutory Citations