Private school solicitor bond cost
The Louisiana Board of Regents’ Division of Planning, Research and Performance requires proprietary schools that employee solicitors to post a $1,000 blanket surety bond per solicitor prior to conducting business.
These bonds are subject to underwriting consideration, and qualified applicants could pay as low as $100. Ready to get bonded quickly, easily and for the lowest available premium rate? Contact one of our surety specialists to receive a free, personalized bond quote within 1 business day of applying. Call 888.610.4474, or click here, to begin the bonding process.
Why this bond
By posting a Louisiana blanket bond for solicitors permits, principals pledge to conduct business according to all applicable laws of the state. If the principal fails to conduct business ethically and lawfully, the bond ensures that any student/tuition payer who suffers financial loss as result of the principal’s violation(s) up to the full amount of the bond.
Specifically, these bonds ensure that all tuition funds received will be used toward the contracted services and be returned in full if the school fails to provide these services for any reason.Blanket bonds for solicitors in Louisiana remain in full force and effect. The surety can cancel the bond at any time by filing written notice of cancellation with the Board of Regents at least 30 days prior to the effective termination date.The name of the school and the signature and title of a school official must be listed on the surety bond form.
Become a proprietary school
The Board of Regents oversees proprietary schools, which are private businesses owned by one person, a partnership, a limited liability company or a corporation for the purpose of selling vocational/occupational courses to the general public. The responsibility of proprietary schools is to prepare individuals for gainful employment. These schools do not award academic degrees.
To meet the definition of a proprietary school, a private business must either maintain a physical facility within the state, have a mailing address within the state or employ at least one representative within the state. All licensed proprietary schools in Louisiana must abide by the Louisiana Proprietary Schools Law, R.S. 17:314et seq., that was enacted in 1972. Proprietary schools are licensed by the Board of Regents and adhere to the rules and regulations of the Louisiana Proprietary Schools Advisory Commission.
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