MI broker-dealer bonds.
$100 flat.
A Michigan broker-dealer whose registration carries a bond condition files a $10,000 surety bond with the securities administrator at LARA’s Corporations, Securities & Commercial Licensing Bureau — ours is $100 flat, and the price you see is the checkout price. The application includes a credit consent, but it authorizes a soft credit pull only.
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Three steps. One sitting.
A fixed-amount, fixed-price bond is about the simplest thing in surety. Here is the entire process:
Apply online
Firm details, years in business, and an effective date, plus the credit consent that authorizes a soft pull. No financial statements, no FOCUS report to attach here.
Pay & e-sign
Bonds like this are among the thousands of bond types that issue right after purchase. The soft inquiry never affects your score, and no hard inquiry ever runs on this bond.
File with the administrator
Your executed bond and power of attorney arrive by email, ready to file with LARA CSCL alongside the registration or renewal it belongs to. Wet-ink original mailed on request.
What it is and who needs it.
What the broker-dealer bond actually covers
Michigan registers broker-dealers under the Michigan Uniform Securities Act (2002), 2008 PA 551, administered by the securities administrator inside LARA’s Corporations, Securities & Commercial Licensing Bureau. MCL 451.2411(5) is the bonding hook: a rule or order may require a broker-dealer that has custody of or discretionary authority over customer funds or securities to obtain insurance or post a bond, in an amount the administrator sets, and the bond must permit an action to enforce liability on it within the limitation period in section 509(10)(b).
The same subsection carves out the well-capitalized: neither insurance nor a bond may be demanded of a registered broker-dealer whose net capital exceeds the amount fixed by rule or order. That threshold is why the bond has always been a small-firm instrument in Michigan. The rescinded rule that named the number, R 451.602.7, applied it to a broker-dealer whose net capital did not exceed $50,000 and set the bond at $10,000, restorable to $10,000 if a recovery reduced it — which is where the $10,000 figure on this form comes from.
The protected parties are broader than the statute’s own causes of action. The historical bond ran for the use and benefit of anyone with a Michigan cause of action arising from embezzlement, defalcation, or misappropriation of securities or funds by the principal, its agents, or its employees. It is not insurance for you — if the surety pays a claim, you repay the surety. Michigan broker-dealer registrations run on the calendar year and renew through the CRD cycle, so the bond has to stay continuous across December 31.
You need this bond if you are
One application, issued instantly.
These are the actual issuing fields. The credit consent in the form authorizes a soft pull only — a soft inquiry that never affects your score.
Start the application →Common questions.
Other Michigan bonds.
Clear the bond condition on your registration today.
$100 flat, soft pull only, bond often issued in the same sitting and e-signed for filing with LARA. Free until issued.