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AR House Bill 2231

Legislation

State: Arkansas
Signed: April 09, 2009

Effective: August 07, 2009
Chapter: Act No. 1404

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.

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. House Bill 2231 clarifies that the state of Arkansas will control any funds issued in order to compensate any victim of a Notary’s misconduct.

Read House Bill 2231.

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