January 5th 2012
Mississippi Proprietary School Bond Update
Mississippi legislators have enacted a new bill that concerns proprietary schools within the state. The new bill is named SB 2771 and modifies the surety bond requirements for proprietary schools which previously called for a $50,000 bond. SB 2771 now allows the Commission on Proprietary School and College Registration to establish the size of the bond. The new bill also terminated the amount of the bond for a proprietary school agents. Previous legislation required a $10,000 bond for a permit to become an agent of the school, and blanket bonds were also acceptable to cover all of the school’s agents. SB 2771 now only states that the agent’s bond must be acceptable to the Commission on Proprietary School and College Registration.
About two weeks ago I wrote about a potential breakout trade in the bond market. Well since that post the bonds have indeed broken out of its sideways consolidation. The bond market made a fresh new high today. You can read my post from two weeks ago by clicking here.