AR House Bill 2231 | NNA
Law

AR House Bill 2231

Notary Law Update: AR House Bill 2231

State: Arkansas

Summary:

House Bill 2231 clarifies that the issuer of the Notary’s $7,500 surety bond or contract shall not be liable for more than the amount of the Notary’s surety bond or contract and that the surety’s obligation is to and for the benefit of the state of Arkansas.

Signed:  April 09, 2009

Effective:  August 07, 2009

Chapter: Act No. 1404

Affects:

Amends Section 21-14-101 of the Arkansas Code

Changes:
  1. Clarifies that the obligation of the issuer of the Notary’s surety bond or contract shall be solely to the state of Arkansas and for the benefit of state of Arkansas.
  2. Clarifies that the aggregate liability of the surety issuer of the bond or general business corporation issuing the security contract shall not exceed the amount of the bond.
Analysis:

In Arkansas, the $7,500 Notary bond may be satisfied by obtaining a bond from a surety approved by the Secretary of State or a security contract issued by a general business corporation registered with the state insurance commissioner. Either instrument fulfills the same purpose. HB 2231 clarifies that the state of Arkansas will control any funds issued in order to compensate any victim of a Notary’s misconduct.

Read the bill text.

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