There are license bonds required of individuals and businesses operating in the financial industries in Ohio. Among those who need a surety bond are mortgage brokers, mortgage loan originators, title agents, surplus lines agents, and credit services organizations. The Department of Financial Institutions, Department of Insurance, Division of Securities, Bureau of Workers' Compensation, and the Department of Job and Family Services oversee these surety bond requirements.
Jet is a direct surety company, meaning when you purchase a bond with us you receive first-in-class customer service and a competitive rate every time without middleman brokers and agents. Select your bond below, or give us a call at (855) 296-2663 if you don't see the bond you need.
As part of the Residential Mortgage Lending Act, mortgage lenders, brokers, servicers, and loan originators must file a surety bond with the Division of Financial Institutions.
A bond is required for all Ohio money transmitters in the minimum amount of $300,000.
Credit services organizations are mandated by the DFI to get and maintain a $50,000 surety bond throughout their licensure.
The Ohio DFI orders all short term lenders to hold a surety bond. The bond limit starts at $100,000 (or $50,000 if you are a nonprofit).
Intra-state securities dealers not registered through the Securities and Exchange Commission need a surety bond with the State of Ohio to operate.
Ohio title agents are required to submit a license bond in the amount of $150,000 to the Ohio Department of Insurance, Licensing Division.
A certificate of authority and surety bond are necessary for public insurance adjusters to do business in Ohio.
A $25,000 surety bond is needed for all surplus lines brokers licensed with the Ohio Department of Insurance.
Nonprofits (reimbursing employers) electing to make payments to the Unemployment Compensation Fund in lieu of contributions need a bond.
Any person entering into a life settlement contract is to get a $250,000 Viatical Settlement Provider Bond with the Ohio Department of Insurance.
A $50,000 bond is mandatory for all Ohio pawnbrokers licensed with the State of Ohio Superintendent of Financial Institutions.
Those buying, selling, or trading precious metals and jewels must purchase a license bond to be filed with the Ohio Division of Financial Institutions.