If you are engaged in the operation of log term care facility that handles patient funds in Oklahoma you are required by the Oklahoma State Department of Health to file an Oklahoma Resident Funds Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Oklahoma Resident Funds Bond holds you accountable for your business decisions.
By possessing an Oklahoma Resident Funds Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.