Prior to the approval of their renewal request for the 2018 calendar year, Arkansas licensed mortgage companies and money transmitters must reissue their surety bonds to reflect the amended bond requirements adopted in March 2017. The amended bond forms indicate that a surety bond will cover claims for at least five years after the licensee ceases to provide the licensed services in Arkansas or longer if required by the commissioner. Previously, the time frame for filing a claim was not specified.
The amended bond forms can be found here on the Arkansas Renewal Checklist.
