If you are engaged in the operation of a driver training school in Michigan you are required under Section 9 of Public Act 384 of 2006 to file a Michigan Non-Commercial Vehicle Driver Training School 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 Michigan Non-Commercial Vehicle Driver Training School Bond holds you accountable for your business decisions.
By possessing a Michigan Non-Commercial Vehicle Driver Training School Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.