Obtaining proof of a Notary Public Surety Bond from a Texas-licensed bonding company is the first step in becoming a new or renewing Texas Notary Commission. It must cover $10,000 and be actual for four years.
Old Republic Surety Company, backed by its parent Old Republic International Corporation, has about $19 billion in assets and a Treasury listing over $200 million.
A notary public must obtain a $10,000 bond. This bond guarantees that any injured party can recover up to $10,000. The bond application must be completed by a licensed surety bond agency.
The Texas Department of Insurance oversees the state's insurance industry. Every bond agency that offers bonds is required to be licensed by the TDI (Texas Department of Insurance) and is guaranteed compensation in cases of errors or negligence. TXNotaryForm.com is listed as a licensed surety bond agency by the Texas Department of Insurance.
Each Notary Public takes an official oath to diligently perform the duties of their office. To ensure accountability in their role, a Notary Public is required to post a $10,000 bond with the Secretary of State.
Proof of a notary bond is required to obtain for new or renewed Texas Notary Commission. It is included in pre-selected notary packages.
If a claim arises due to error, the bond company pays, but the notary must reimburse. E&O insurance covers any claims against the bond, restoring the notary's finances.
Purchasing a bond is not sufficient to become a notary; you or a bond agency must submit the application to the Secretary of State on your behalf.
still you have any questions? contact our team via info@txnotaryform.com
A surety bond is a legal agreement involving three parties:
1. The principal (you, the notary)
2. The obligee (the State of Texas)
3. The surety (the bonding company)
This bond guarantees that you will adhere to all state laws and duties as a notary. If you make a mistake or commit fraud that results in financial harm, the surety may pay a claim on your behalf; however, you are responsible for reimbursing them.
No. A notary bond is designed to protect the public, not you. If a claim is made against your bond and the bonding company pays it out, you are responsible for repaying them.
To safeguard yourself from liability or mistakes, it is advisable to purchase Errors and Omissions (E&O) insurance. While this insurance is optional, it is strongly recommended.
