MI patient trust fund bonds.
Flat 3%. Enter your amount.
A Michigan nursing home that holds patients' money in trust must give a bond before its license is issued or renewed, under the Public Health Code. We write it at a flat 3% with no credit check — enter the amount your patient trust fund requires and the premium updates.
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Apply to filed in one sitting.
No underwriting queue for the standard trust fund bond — enter your amount, pay, and file with LARA. Here is the whole thing:
Apply online
Your facility details, the bond amount your trust fund requires, and the effective date — that is the entire application.
Issued on the spot
No credit check and no waiting — the executed bond is generated as soon as you pay. Larger amounts may get a quick review.
File with LARA
Submit the executed bond before your nursing home license is issued or renewed. Wet-ink originals mailed whenever the agency insists.
The whole pricing page.
Bond amount × 3% = your premium, one-time, $275 minimum. Enter the figure your trust fund requires and the premium updates.
What it is and who needs it.
What the patient trust fund bond covers
When a Michigan nursing home holds a resident's spending money or other property in trust, the Public Health Code requires those funds to be kept separate from the home's own money and disbursed only as the patient directs. To back that obligation, the owner or governing body must give a bond before the license is issued or renewed.
The bond is filed with the Department of Licensing and Regulatory Affairs (LARA) in the form and amount the department approves. Michigan rules set a minimum bond amount and tie it to the average balance of the patient trust fund over the preceding twelve months, so the security scales with the money you actually hold.
If a home misuses or fails to account for patient trust money, harmed patients can recover against the bond — and if the surety pays, the home repays the surety. The surety can cancel on 60 days' written notice to the LARA director. We issue whatever amount your facility requires at a flat 3% with no credit check.
You need this bond if you are
Five minutes, issued on the spot.
Submit the application with the bond amount your trust fund requires — the executed bond is generated instantly, ready to file with LARA.
Start the application →Common questions.
If yours isn't here, the bond team can usually answer within the hour.
How much is the Michigan patient trust fund bond? +
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Other New York bonds.
Patient trust fund bond, issued today.
Five-minute application, flat 3%, $275 minimum. Enter your required amount and file with LARA the same day.