Alabama Non-Degree Granting Private Schools are required under Section 16-46-1 through 10 of the Code of Alabama, 1975 to file an Alabama Private School (Non-Degree Granting) Bond in the amount of $20,000 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 Alabama Private School (Non-Degree Granting) Bond holds you accountable for your business decisions.
By possessing an Alabama Private School (Non-Degree Granting) Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.