Indiana — Collection Agency - NMLS Bond
Indiana collection agencies submit one electronic surety bond through NMLS, associated with the principal office. The Secretary of State's current instructions aggregate $5,000 for each office operated in Indiana into that single bond. Have the Division confirm your company's required total before ordering.
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- Recorded state
- Indiana
- Bond type
- Collection Agency Bond
- Category
- Financial services
What this bond does
The published collection agency bond requires compliance with the Collection Agency Act and payment to people entitled to damages caused by noncompliance, together with penalties provided by the law. Its condition extends beyond holding client collections.
- Who needs it
- Individuals and businesses registering as collection agencies with the Indiana Secretary of State, Securities Division. Match the company MU1 and its Indiana offices. A branch MU3 application is separate, but its security is included in the single bond associated with the principal office.
- Who it protects
- The published form binds the principal and surety jointly and severally for people damaged by a breach of its conditions. An eligible damaged person may bring an action, subject to the aggregate limit. The form's bond-action deadline is two years after the act on which the action is based.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Indiana Securities Division collection agency registration (opens in a new tab)Checked October 27, 2026
- Indiana Secretary of State collection agency bond (opens in a new tab)Checked October 27, 2026
- Indiana compliance alert — collection agency electronic surety bonds (opens in a new tab)Checked October 27, 2026
Have these ready
- Have the principal company's legal name, NMLS ID, trade names and Indiana application or renewal request.
- List the Indiana offices and confirm the total security required for the single principal-office ESB.
- Review the issued condition, effective date, principal/surety execution and electronic company-record association.
- Finish the separate company/branch requirements and any nonresident service-of-process appointment.
Questions about this bond
Does each Indiana office buy a separate bond?
The current Division instructions call for $5,000 per Indiana office aggregated into one electronic bond associated with the principal office. Branch license applications remain separate. Confirm the company total rather than ordering one specimen amount for several offices.
Can I use the posted paper form instead of an ESB?
The current programme requires an electronic surety bond through NMLS. The older posted form supplies bond wording, but does not replace the electronic filing process announced in the Division's conversion alert.
Does the two-year clause describe the bond term?
No. The posted form measures its bond-action deadline from the act giving rise to the claim. It separately describes continuing coverage and termination by the specified notice or license-ending events.