Illinois Qualifications Of Principal and Personal Sureties are a set of requirements that must be met in order to secure a bond in the state of Illinois. In order to qualify as a Principal and Personal Surety in Illinois, the individual must be a resident of the state and of good character and have a net worth that is at least twice the amount of the bond being secured. The individual must also have sufficient financial resources to cover the bond. There are two types of Illinois Qualifications Of Principal and Personal Sureties: Qualifications of Principals and Qualifications of Personal Sureties. Qualifications of Principals require that the individual must have a net worth of at least twice the amount of the bond being secured, have adequate financial resources to cover the bond, and be a resident of the state and of good character. Qualifications of Personal Sureties require that the individual must have a net worth of at least one and a half times the amount of the bond being secured, have adequate financial resources to cover the bond, and be a resident of the state and of good character.
Illinois Qualifications Of Principal and Personal Sureties
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