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