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Florida Statutes, 744.309 requires the $250,000 fiduciary bond to be posted by For-Profit Corporate Guardians. The bond ensures the guardian provides faithful performance of all duties of a guardian as prescribed under Chapter 744: Guardianship, of Florida law. Some of these duties include acting within the scope of the authority granted by the court, acting in good faith, and not acting in a manner that is contrary to the ward’s best interests.
Within the Florida Department of Elder Affairs, the Office of Public & Professional Guardians (OPPG) was created to appoint local public guardian offices and to also be responsible for the registration and education of professional guardians. One of the registration requirements set forth by the Office is to obtain a blanket fiduciary bond or to maintain a liability insurance policy that covers losses up to $250,000. The Obligee on the bond reads as the Governor of the State of Florida.
Florida Corporate Guardianship Bonds run from the effective date for a period of exactly one year. The beginning and end dates are specified on the bond form. The fiduciary bond can then be renewed on an annual basis via a continuation certificate. Updated personal and business financial statements are required before the continuation certificate is issued. Typically a renewal notice is sent out 60-90 days prior to the anniversary.
Contact The ProSure Group. As surety bond experts in business in Florida since 1993, The ProSure Group has issued thousands of fiduciary bonds and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.
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