A Wisconsin Private School Bond is a type of surety bond required pursuant to the Wisconsin Administrative Code. The surety bond binds the applicant/principal and the surety company to the Wisconsin Educational Approval Board. The private school bond is for the benefit of those persons provided the right of indemnification by virtue of the provisions of Chapter EAB 4.06, Wisconsin Administrative Code, and the State of Wisconsin. The surety bond is required for those who have been granted approval to do business as a Private School pursuant to s.38.50 of the Wisconsin Statutes and it ensures adherence to the rules and regulations including those governing solicitation pursuant to applicable provisions of the Wisconsin Statutes.
