Who requires it
Connecticut Department of Banking — Consumer collection agencies
License & permit · Connecticut
Connecticut Consumer Collection Agency Bond
Connecticut consumer collection agencies must post a surety bond before the Department of Banking grants or renews the license. CGS § 36a-802 sets $50,000 for the main office and another $50,000 for each branch office. Agencies engaged solely in debt buying are exempt from the bond. Filings are made electronically on NMLS under the Department’s electronic-bond order.
Common bond amount
$50,000 per office
$50,000 main office + $50,000 each branch under § 36a-802; sole debt buyers exempt.
How you file
File electronically through NMLS; one bond sized to the per-office totals
Renewal
Concurrent with the license; 30-day cancellation notice; auto-suspend if replaced late
Who requires it
Applicants and licensees for a Connecticut consumer collection agency license under §§ 36a-800 to 36a-814, except firms engaged solely in the business of debt buying. Out-of-state collectors that fall within Connecticut’s licensing reach still need the bond when they are not sole debt buyers.
How much is required
Section 36a-802 fixes $50,000 for the main office and $50,000 for each branch office. Claims cannot exceed the bond amount. The Department’s electronic-bond order directs licensees to file a single NMLS bond covering licensed locations in the amount the statute requires, rather than naming each location on a separate paper bond.
How to get and file it
Confirm you are not a sole debt-buyer exemption candidate, calculate $50,000 times the number of licensed offices, and authorize a Connecticut-authorized surety to issue the electronic NMLS bond to the people of the state in the Attorney General–approved form. The bond runs with the license period. A surety may cancel with at least thirty days’ notice through NMLS or certified mail; without a timely replacement or reinstatement, the commissioner automatically suspends the license. Keep coverage continuous through renewal.
Cost note
Fifty thousand dollars per covered office is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Main office
- $50,000
- Each branch
- Additional $50,000
- Debt-buyer exception
- Sole debt-buying agencies are exempt from the bond under § 36a-802
- Filing path
- Electronic surety on NMLS per DOB order
Official sources
Related resources
Frequently asked questions
Do Connecticut debt buyers need this bond?
Section 36a-802 exempts a consumer collection agency engaged solely in the business of debt buying. Mixed collection and debt-buying operations follow the bond requirement for the collection activity.
Is the bond still $50,000 if I have multiple branches?
The statute requires $50,000 for the main office and $50,000 for each branch. On NMLS you typically file one electronic instrument whose face equals that combined statutory total.
Related Connecticut bond guides
Debt Adjuster Bond
$40,000+
Connecticut debt adjusters must file a surety bond with the Banking Commissioner before a license issues or renews. CGS § 36a-664 sets the principal amount at the greater of $40,000 or twice the average daily balance of payments received from Connecticut debtors during the twelve months ending June 30. Multi-location applicants file one bond. Credit clinics under § 36a-700 are a different legal category and do not use this schedule.
Mortgage Lender Bond
$50,000–$500,000
Connecticut mortgage lenders, mortgage correspondent lenders, and mortgage brokers file one surety bond with the Banking Commissioner covering the main office, branch offices, and sponsored mortgage loan originators. CGS § 36a-492 sets lender and correspondent faces from $100,000 to $500,000, and broker faces from $50,000 to $150,000, using aggregate residential mortgage originations for the preceding four quarters ending June 30. Filings run electronically through NMLS.
Money Transmitter Bond
$300,000 / $500,000 / $1,000,000
Connecticut money transmitter applicants and licensees must file a surety bond with the Banking Commissioner under CGS § 36a-602. For firms that do not transmit virtual currency, the statute sets amounts of $300,000, $500,000, or $1,000,000 from average weekly Connecticut money transmissions during the twelve months ending June 30. Transmitters that will or may handle virtual currency receive an amount set by the commissioner to address market volatility. Approved investments may replace part or all of the bond.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Connecticut application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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