Who needs a health club bond?
In the State of Maryland, health clubs are required to obtain a surety bond to be in compliance with Annotated Code of Maryland Title 14, Subtitile 12B of the Maryland Statutes. If a business is making sales prior to opening for business, the business must register and post a $50,000 bond before starting any sales. This bond must be increased accordingly as sales exceed $50,000. The bond must always equal or exceed the total amount of money collected from consumers before the club opens. Unlike a bond for an existing facility there is no maximum. However, once the business opens, it may reduce its bond to the amount required for an existing business.
What is the health club bond?
The health club bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions.
The Maryland health club bonds are also known as: Maryland health studio bond, fitness bond, fitness club bond, and health club bond.
What else do I need besides the bond?
For more information in regards to health studios, click here.
Health club owners will submit the original signed bond form to the Health Club Unit, Consumer Protection Division at the following address:
Health Club Unit, Consumer Protection Division
Office of the Attorney General
200 St. Paul Place
Baltimore, MD 21202
They may be reached by phone at (410) 576-6350.
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Only Ashton Agency can provide you with:
Many companies offer the health club bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the industry. We've been helping people get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 451-4854 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
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