Notaries public are required to obtain a $10,000 surety bond and file it at the office of the county clerk in the county where the notary will be appointed. The cost of a surety bond will vary--generally between $25 to $50. A surety must be licensed to do business in this state. A list of licensed agencies is available at www.michigan.gov/cis.
A surety bond protects the public from a notary's misconduct or negligence.
- The bond provides coverage for damages to anyone who suffers financially due to an improper official act on the part of the notary.
- The surety may seek reimbursement from the notary for any damages it pays on the notary's behalf.
- The Michigan Department of State is authorized to require the notary to purchase replacement bonding if the original $10,000 bond funds are depleted by damage claims.
- Surety bonds are not insurance policies. The bond protects the public if a court judgment is rendered against a notary because of negligence or misconduct.
Blanket bonds or personal assets cannot be used in place of an individual surety bond.
In accordance with Section 13(2) of the Notary Public Act, the surety on the bond may cancel the bond 60 days after the surety notifies the notary, the secretary of state, and the county clerk of the cancellation. The notice to the secretary of state may be in letter format and should contain the following information if available: name of company; name of principal; date bond was executed; county of commission; expiration date of commission; and effective date of cancellation. The notice to the secretary of state should be sent to the Office of the Great Seal, 7064 Crowner Blvd, Lansing, Michigan 48918.