Who requires it
Alaska Division of Corporations, Business and Professional Licensing — Collection agencies
License & permit · Alaska
Alaska Collection Agency Bond
Alaska collection agencies must furnish $5,000 of coverage under AS 08.24.150. The statute accepts either a surety bond or a $5,000 cash deposit. The bond protects against the agency’s failure to account for money collected for clients and against other liabilities the collection-agency chapter addresses. A surety that withdraws must give notice; its liability ends sixty days after the withdrawal notice if a replacement bond is filed or the license is revoked. Keep uninterrupted coverage for the entire license period.
Common bond amount
$5,000
Fixed under AS 08.24.150; $5,000 cash deposit may substitute for the surety.
How you file
Surety bond or $5,000 cash deposit with CBPL
Renewal
Keep while licensed; surety withdrawal liability ends 60 days after notice if replaced or revoked
Who requires it
Applicants for and holders of Alaska collection agency licenses under AS 08.24 filing with Corporations, Business and Professional Licensing.
How much is required
The statute sets a fixed $5,000 amount. Choose either a surety bond or a cash deposit in that amount.
How to get and file it
Arrange a $5,000 surety in the exact agency legal name or prepare the cash-deposit alternative, then file with the collection-agency license application as CBPL instructs. Maintain the bond or deposit while licensed. If the surety sends a withdrawal notice, replace coverage before the sixty-day window ends so the license does not hang on a gap. Confirm current CBPL filing addresses and forms when renewing.
Cost note
Five thousand dollars is the required bond amount (or cash deposit), not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $5,000
- Cash alternative
- $5,000 deposit in lieu of bond
- Surety withdrawal
- Liability ends 60 days after withdrawal notice if new bond filed or license revoked
Official sources
Related resources
Frequently asked questions
Is the collection agency bond the same as a debt-settlement or credit-repair bond?
This guide covers the AS 08.24 collection agency instrument only. Alaska does not publish a separate statewide credit-services organization bond schedule in this hub—confirm whether your activity requires a collection-agency license or another credential.
What happens if my surety cancels?
The surety’s liability ends sixty days after withdrawal notice when a new bond is filed or the license is revoked. Replace the bond promptly so CBPL does not lose required coverage mid-term.
Related Alaska bond guides
Small Loan Company Bond
$25,000
Alaska small loan companies must file a $25,000 bond under AS 06.20.050 as part of the Division of Banking and Securities licensing package. The department’s application checklist requires an original bond from a surety authorized in Alaska, with the name matching the applicant’s full legal name and any DBA exactly. The checklist describes coverage running from the application date to January 1 of the following year, so applicants should confirm the current term language on the department’s bond form when renewing. Keep the bond aligned with the licensed small-loan office activity for the life of the credential.
Money Transmitter Bond
$25,000 + $5,000 per location
Alaska money transmitters must furnish a bond or other accepted coverage under AS 06.55.104 before the Division of Banking and Securities will license the activity. The baseline formula is $25,000 plus $5,000 for each location, with the location addition capped at $125,000—so the ordinary schedule tops out at $150,000. Coverage may be a surety bond, a letter of credit, or another form the department accepts. The department may raise the required amount up to $500,000 based on the volume of money transmission business. Whatever instrument you use must remain available for claims for at least five years after the licensee stops providing money transmission services in Alaska.
Mortgage Broker / Lender Bond
≥ $75,000
Alaska mortgage brokers and lenders must maintain a bond under AS 06.60.045. That statute directs the Department of Commerce, Community, and Economic Development to set the amount by regulation and allows one bond to cover every location listed on the license. Regulation 3 AAC 14.053 sets the operative floor at $75,000. The bond stays in force while you are licensed or registered and for three years after the license or registration ends, so claims may still land after the credential closes. File through the Division of Banking and Securities mortgage program, typically coordinated with NMLS when the department requires electronic filing.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Alaska application
Alaska will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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