Georgia Nursing Facility Resident Trust Fund Bonds

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What is a Georgia Nursing Facility Resident Trust Fund Bond?

The Commissioner of Community Health of the State of Georgia requires the Long Term Care Facility Residents' Fund Surety Bond to ensure that the bonded business faithfully accounts for all residents' funds received or managed, and disburses or expends such funds only as requested or required under the provisions of the state.

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Nursing Facility Resident Trust Fund Bond

$50,000 Bond

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Why is a Georgia Nursing Facility Resident Trust Fund Bond Required?

The bond protects the residents of the long term care facility who deposit funds against fraud in the management of these funds by the facility. The liability of the surety for any and all losses incurred under this bond shall not exceed the stated penal sum. This obligation may be canceled by the surety by giving thirty (30) days notice in writing of its intention to do so to said Principal and the Department of Community Health, Healthcare Facilities Regulation Division.

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