LIC 402: Surety Bond

Understanding CCLD Forms

This form, the LIC 402 - Surety Bond,  is required if a facility chooses to handle residents' cash resources (as reported on Form LIC 400).  It states the name of the bonding company and specific terms of the agreement.  Examples of when a bond is needed are: (1) The Licensee/facility employee cashes a resident's check and returns the money to the client; (2) The Licensee/facility employee keeps a resident's money in a safe place (including a financial institution) and controls its distribution.

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