If you are engaged in the operation of a Private Business School operating in Maine, you are required under the 20-A MRSA 9501-9508 et. seq. to file a Maine Business School Blanket 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 Maine Business School Blanket Bond holds you accountable for your business decisions.
By possessing a Maine Business School Blanket Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.