If you are engaged in the operation of a private career school in Minnesota you are required under chapter 141 of the Minnesota Statutes to file a Minnesota Private Career 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 Minnesota Private Career School Bond holds you accountable for your business decisions.
By possessing a Minnesota Private Career School Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.