MI patient trust fund bonds.
From $100. Enter your amount.
A Michigan nursing home that holds patients' money in trust must give a bond before its license is issued or renewed, under the Public Health Code. Pricing is 1% of the bond amount, $100 minimum and the application collects no credit information — enter the amount your patient trust fund requires and your exact price appears.
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Apply to filed in one sitting.
No underwriting queue for the standard trust fund bond — enter your amount, pay, and file with LARA. Here is the whole thing:
Apply online
Your facility details, the bond amount your trust fund requires, and the effective date — that is the entire application.
Issued on the spot
The application collects no credit information, so most applications are issued as soon as you pay. Larger amounts may get a quick review, with a soft pull that never affects your score.
File with LARA
Submit the executed bond before your nursing home license is issued or renewed. Wet-ink originals mailed whenever the agency insists.
What it is and who needs it.
What the patient trust fund bond covers
When a Michigan nursing home holds a resident's spending money or other property in trust, the Public Health Code requires those funds to be kept separate from the home's own money and disbursed only as the patient directs. To back that obligation, the owner or governing body must give a bond before the license is issued or renewed.
The bond is filed with the Department of Licensing and Regulatory Affairs (LARA) in the form and amount the department approves. Michigan rules set a minimum bond amount and tie it to the average balance of the patient trust fund over the preceding twelve months, so the security scales with the money you actually hold.
If a home misuses or fails to account for patient trust money, harmed patients can recover against the bond — and if the surety pays, the home repays the surety. The surety can cancel on 60 days' written notice to the LARA director. We issue whatever amount your facility requires, with pricing from $100; the application collects no credit information and most applications approve instantly.
You need this bond if you are
One application, issued on the spot.
Submit the application with the bond amount your trust fund requires — the executed bond is generated instantly, ready to file with LARA.
Start the application →Common questions.
Other Michigan bonds.
Patient trust fund bond, issued today.
Pricing from $100. Enter your required amount and file with LARA the same day.