Kentucky — Consumer Loan Company (Publicly Traded) - NMLS Bond
For new applications submitted on or after January 1, 2020, Kentucky sets $250,000 in security for publicly traded Consumer Loan Companies. It covers all licensed locations; do not select the privately held company's $100,000 requirement.
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- Recorded state
- Kentucky
- Bond type
- Consumer Finance / Lender Bond
- Category
- Financial services
What this bond does
Provide the corporate surety-bond option for a publicly traded applicant's company-wide security under KRS 286.4-450, alongside its separate financial-condition and licensing requirements.
- Who needs it
- Publicly traded Consumer Loan Company applicants and licensees matching their actual corporate status and Kentucky locations to the Department's security request.
- Who it protects
- The instrument is payable to Kentucky's commissioner. It supports expenses, fines and fees under the subtitle and customer losses the commissioner determines resulted from the applicant's or licensee's noncompliance; cumulative surety liability cannot exceed the specified sum.
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
- Kentucky DFI: Consumer Loan Companies (opens in a new tab)Checked October 27, 2026
- Kentucky Revised Statutes: KRS286.4-450 (opens in a new tab)Checked October 27, 2026
- Kentucky Legislature: Consumer Loan Companies (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm the actual applicant is publicly traded and the provision for applications on or after January 1, 2020 applies to its request.
- Match the $250,000 company-wide security and all licensed locations, separately from net worth.
- Obtain the current accepted form and exact legal company/NMLS record, required sum and dates.
- Submit the accepted security and separate licensing or renewal documents through NMLS as directed.
Questions about this bond
Is $250,000 required for each branch?
The cited provision says the security covers all licensed locations. Match the company-wide request and location list rather than multiplying the public-company sum by every branch.
Does $250,000 net worth replace the bond?
No. The security and financial-condition tests are separate. The publicly traded net-worth requirement is more than $250,000, while the specified security is $250,000.
Is this the privately held company option?
No. The statute distinguishes $100,000 for privately held applicants from $250,000 for publicly traded applicants. Match the legal applicant's actual status.
Does the three-year claim limit set the bond term?
No. The statute limits when a claim can be brought after the underlying act. It does not turn the security into a three-year product or reset the surety's cumulative limit annually.