Who requires it
Wyoming Collection Agency Board (Division of Banking)
License & permit · Wyoming
Wyoming Collection Agency Bond
Wyoming collection agencies must furnish ten thousand dollars of security under W.S. 33-11-108 after the Collection Agency Board approves the application. The statute accepts either a surety bond from a company licensed in Wyoming or a ten-thousand-dollar cash deposit with the state treasurer. The bond runs to the state and to claimants and is conditioned on turning over collection proceeds—less agreed charges—to the creditors who placed debts with the agency. Claims go first to the board, which notifies the surety; if the surety does not pay or settle within thirty days, the claimant may sue on the bond. When a surety withdraws, or when the insurance commissioner revokes the surety’s authority, the licensee has thirty days after board notice to file a new bond or lose the right to operate. Each Wyoming office is licensed separately, and board rules require branch offices to meet full licensing requirements—so budget a ten-thousand-dollar bond for each licensed location.
Common bond amount
$10,000
Fixed under W.S. 33-11-108; $10,000 cash deposit may substitute. Each Wyoming office is licensed separately and branches meet full licensing requirements.
How you file
Surety bond, or $10,000 cash deposit with the state treasurer
Renewal
Maintain while licensed; 30 days to replace after surety withdrawal notice
Who requires it
Applicants for and holders of Wyoming collection agency licenses under Title 33 chapter 11 filing with the Collection Agency Board / Division of Banking.
How much is required
W.S. 33-11-108 sets a fixed $10,000 amount for the license. Because each Wyoming office is licensed separately and branches must meet full licensing requirements, each licensed location needs its own $10,000 security.
How to get and file it
After approval notice, file within twenty days either a $10,000 surety in the exact agency legal name or a $10,000 cash deposit with the state treasurer, using the board’s bond form and instructions. The license issues after the board and attorney general approve the bond. Maintain the bond or deposit while licensed. On renewal, submit current proof of continued $10,000 coverage as the board requires. If the surety withdraws, replace the bond within thirty days of the board’s notice or the right to conduct a collection agency terminates.
Cost note
Ten thousand dollars is the required bond or deposit amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $10,000
- Cash alternative
- $10,000 deposit with the state treasurer
- Filing timing
- Within 20 days after application approval notice
- Surety withdrawal
- New bond within 30 days of board notification or lose right to operate
Official sources
Related resources
Frequently asked questions
Do I need a separate bond for each Wyoming branch?
Each Wyoming office must be licensed separately, and branch offices must meet full licensing requirements. Plan on $10,000 of security for each licensed location.
Can I deposit cash instead of buying a surety?
Yes. W.S. 33-11-108 allows depositing $10,000 cash with the state treasurer in place of the surety bond.
Related Wyoming bond guides
Mortgage Lender / Broker Bond
$25,000–$100,000
Wyoming mortgage lenders and brokers must maintain a surety under the Residential Mortgage Practices Act, W.S. 40-23-110. The bond covers individual loan originators employed by or under contract with the licensee and runs to the state. Since January 1, 2010, the commissioner sets the amount by rule from the licensee’s Wyoming loan volume. Chapter 2 of the Banking rules starts new licensees at twenty-five thousand dollars until the first renewal, then steps the amount to twenty-five, fifty, or one hundred thousand dollars when prior-year Wyoming loans made or brokered are at or below three million, above three million but under ten million, or at least ten million dollars. Organizations that employ or contract with mortgage loan originators under the Wyoming Uniform Consumer Credit Code follow a parallel volume schedule in W.S. 40-14-637 and Chapter 5 rules, with the annual adjustment due before January 31. Under W.S. 40-23-110, the surety remains a continuing obligation until the commissioner releases it in writing; if never released, the bond expires two years after the license is surrendered, revoked, or expires. Do not use the pre-2010 statutory formula of twenty-five thousand dollars plus ten thousand dollars per licensed office—that schedule no longer governs current renewals.
Money Transmitter Bond
$10,000–$500,000
Wyoming money transmitters must furnish a security device under W.S. 40-22-106 with the license application or upon approval. The statute accepts a surety bond, an irrevocable letter of credit, or another similar device the commissioner finds acceptable. The required amount is ten thousand dollars or two and one-half times the outstanding payment instruments, whichever is greater, but not more than five hundred thousand dollars. The commissioner may raise the amount within that maximum when a licensee’s financial condition is impaired. The security runs to the state for claimants to secure faithful performance of money-receipt, handling, transmission, and payment obligations. The statute also allows depositing cash or certain securities with a financial institution as an alternative to the surety or letter of credit. File electronically through NMLS as the Division of Banking requires.
Motor Vehicle Dealer Bond
$25,000
Wyoming vehicle dealers and Wyoming-based manufacturers must file a twenty-five-thousand-dollar surety bond with the Department of Transportation under W.S. 31-16-103(h). The statute requires a surety licensed in Wyoming, attorney-general approval of the form, a guarantee that the dealer will return the license, manufacturer plates, full-use and demo plates, and temporary permits, and a condition that the applicant will not practice fraud or violate dealer-related federal or state law. Official Form MV-424 sets the same twenty-five-thousand-dollar amount payable to WYDOT as agent for the state. The form’s instructions require a one-year obligation, reject continuation certificates, and allow cancellation only when a newly executed bond already covers the same period. The name on the bond must match the Wyoming Secretary of State filing exactly—including capitalization and punctuation—or WYDOT will reject 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 Wyoming application
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Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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