An Illinois Notary Bond is a mandatory surety bond required for individuals applying to become a notary public in the state of Illinois. This bond protects the public from financial losses caused by errors, negligence, or misconduct by a notary during the performance of their official duties. Here’s a complete guide to understanding the bond’s requirements, costs, and application process.
The Illinois Notary Bond is a $5,000 surety bond required by the state for all commissioned notaries. The bond ensures notaries perform their duties in compliance with Illinois state laws and provides a financial safety net for those harmed by notarial misconduct.
The bond is required to:
While the bond safeguards the public, it does not provide coverage for the notary. If a claim is filed and paid, the notary must reimburse the surety for the amount.
All individuals applying for or renewing a notary public commission in Illinois must obtain a $5,000 notary bond. This applies to:
Without this bond, the Illinois Secretary of State will not issue or renew a notary public commission.
The Illinois Notary Bond involves three parties:
If a notary commits an error or violates the law, resulting in financial loss to an individual, the injured party can file a claim against the bond. The surety investigates the claim and, if valid, compensates the claimant up to the bond amount ($5,000). The notary is then required to reimburse the surety for the claim amount and any associated costs.
The bond premium, or the cost to the notary, is a small percentage of the $5,000 bond amount. Typically:
Many providers also offer bundled packages that include Errors and Omissions (E&O) insurance. While the bond protects the public, E&O insurance protects the notary from personal liability for unintentional mistakes or omissions.
Choose a licensed and reputable surety bond company offering Illinois Notary Bonds. Compare rates and services to find the best option.
Provide personal and contact details, along with your notary commission information.
Pay the premium to activate your bond.
Submit the bond along with your notary application or renewal paperwork to the Illinois Secretary of State’s office.
To remain compliant as a notary public in Illinois:
Failure to comply with these requirements can result in claims against your bond, fines, or suspension of your notary commission.
No, the bond protects the public. Notaries are responsible for reimbursing the surety for any claims paid. To protect themselves, notaries are encouraged to purchase Errors and Omissions (E&O) insurance.
Yes, credit checks are typically not required for notary bonds, making them accessible to most applicants.
If you do not file your bond with the Illinois Secretary of State, your notary commission will not be valid.
No, Errors and Omissions insurance is optional but highly recommended for protecting yourself from personal liability for unintentional errors or omissions.
The Illinois Notary Bond is a crucial requirement for becoming or renewing a notary public commission in the state. It ensures compliance with state laws, protects the public from financial harm, and holds notaries accountable for their actions. By securing this bond and adhering to your legal obligations, you can serve the public confidently and professionally.
