Sellers of health club services (including gyms, weight loss centers, and self-defense schools) that collect more than three months of payment in advance, charge initiation or up-front fees exceeding $200, or collect money for a facility not yet open (pre-sales). Required when: Collecting advance payments of more than…
Overview
What it is.
Sellers of health club services (including gyms, weight loss centers, and self-defense schools) that collect more than three months of payment in advance, charge initiation or up-front fees exceeding $200, or collect money for a facility not yet open (pre-sales). Required when: Collecting advance payments of more than…
Who usually needs it
Sellers of health club services (including gyms, weight loss centers, and self-defense schools) that collect more than three months of payment in advance, charge initiation or up-front fees exceeding $200, or collect money for a facility not yet open (pre-sales).
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMDBond amountFor new businesses: A minimum of $50,000 initially, which must be increased as …Term lengthContinuousObligeeMaryland Attorney General, Consumer Protection DivisionRenewalHealth clubs must update their registration annually by September 1st. Bonded businesses must submit a Schedule of Outstanding Liabilities and a report by an independent Certified Public Accountant (CPA) to determine if…Bond classLicense BondCategoryReal EstateBondMaryland Health Club Registration Surety BondStatutory referenceMaryland Code, Commercial Law Article, § 14-12B-02JurisdictionState
