REAL ESTATE BROKER'S PENAL BOND
BOND
We the ________________________, of ___________________________________
_______________________________________________ (address) as principal, and
________________________________ a surety company incorporated under the laws
of the State of _________________ and authorized to conduct business in the
above mentioned state are indebted to the State of _____________________ in the
amount of _____________ ($____), which we bind ourselves and our legal
representatives.
The conditions of this obligation are as follows:
I. The principal has applied to the
___________________________ (designated state agency) of the State of
____________________ for a real estate broker license and will engage in
business or employment under the following provisions _________________
______________________________________________________ (cite statute); and
II. A bond pursuant to
________________________________ (cite statute) is required.
If principal conducts _____________ (himself or herself) and business in accordance
with the laws of the State of ______________________, this obligation shall be
null and void; otherwise it will remain in full force. Any person aggrieved as
a result of conduct shall have, a right to bring suit against surety as well as
follow through with any rights granted to them.
It is understood that this bond is valid for ________________________ from date
of execution, and that surety shall notify the _____________________________
(state agency) of the expiration date.
The total liability of surety shall not exceed the sum of ___________
($__________).
The premium for which this bond is written is _________________ ($__________).
In witness whereof, both parties to this bond have caused it to be executed at
________ ____________________________________ (location) on the date indicated
below.
_________________________
_____________________
Signature Date
_________________________ _____________________
Signature Date
