Historic Alabama Bond Increase Part Of National Push To Increase Consumer Protection
In a historic effort to provide greater protection for consumers seeking notarizations, the state of Alabama is raising the required surety bond for Notaries to $25,000 — the highest in the country. At least one other state is considering a similar move, and other states have enacted different types of consumer protection measures.
Starting January 1, new and renewing Alabama Notaries will have to obtain the increased bond, up from the previous required amount of $10,000. Surety bonds protect consumers by reimbursing people who lose money because of a Notary’s misconduct up to the bond’s limit. Notaries with a $10,000 bond in force in 2012 or later do not have to obtain the higher $25,000 bond until they renew their commissions.