Kay Electric deposit bonds.
From $100.
Kay Electric Cooperative, the member-owned utility serving north-central Oklahoma out of Blackwell, lets a member post a surety bond in place of a cash deposit on an electric-service account. The cooperative sets the deposit amount from your expected usage. Premiums are 2% of the bond amount, $100 minimum.
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How much does a Kay Electric deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to the cooperative. Here is the whole thing:
Apply online
No credit check up to $15,000.
Issued on the spot
No waiting — the executed bond is generated as soon as you pay. No credit check up to $15,000. Larger amounts may get a brief review.
Deliver to the cooperative
Submit the executed bond to Kay Electric Cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
When you open or hold an account with Kay Electric Cooperative, the cooperative can require a security deposit against unpaid bills — standard practice for new accounts, accounts with a spotty payment history, or accounts the co-op reclassifies after a late payment. Rather than leaving cash on deposit, a member can post a utility deposit surety bond for the same amount — the cooperative is protected, and the member's money stays in their business or household.
It is a three-party arrangement: you (the principal), the surety carrier, and Kay Electric Cooperative (the obligee). If the account goes unpaid, the cooperative can recover the unpaid balance against the bond, up to the deposit amount it set.
It is not insurance for you — if the surety pays a claim, you repay the surety. For most members the bond is simply a cheaper way to satisfy a deposit requirement than tying up the full amount in cash. We price the cooperative's amount at 2% of the bond amount, $100 minimum. No credit check up to $15,000.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Deliver to the cooperative. Submit the executed bond to Kay Electric Cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued the moment you pay.
Submit the application with the deposit amount the cooperative set — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Oklahoma bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Bond your deposit, keep your cash.
Premiums from $100. Enter the cooperative’s deposit amount and deliver the same day. Free until issued.