- A Florida Title Loan Act Bond or even a Title Loan Bond is a $100,000 surety relationship that is necessary for licensure to conduct company as a title loan lender into the State of Florida. The Florida Title Loan Act (Chapter 537, Florida Statutes) also itвЂ™s surety relationship requirement became effective on Oct. first, 2000. a title that is separate loan provider permit is necessary for every single name loan workplace, in addition, a $100,000 surety relationship is necessary for every single permit.
- Per Florida Statutes, Chapter 537, a name loan is understood to be a loan of money up to a customer guaranteed by bailment of the certification of name to an automobile, except such loan created by an individual certified under Chapter 516, Chapter 520, Chapter 655, Chapter 657, Chapter 658, Chapter 660, Chapter 663, Chapter 665, or Chapter 667 or somebody who complies with part 687.03, Florida Statutes.
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- Florida Title Loan Lender Bonds are individually underwritten therefore the price may differ and it is determined by the individual credit file associated with the applicant in addition to individual financials and company financials. Read more