(5 ILCS 312/2-105) (from Ch. 102, par. 202-105) Sec. 2-105. Bond. (a) Every application for appointment and commission as a notary public shall be accompanied by or logically associated with an executed bond commencing on the date of the appointment with a term of 4 years, in the sum of $5,000, with, as surety thereon, a company qualified to write surety bonds in this State. The bond shall be conditioned upon the faithful performance of all notarial acts in accordance with this Act. The Secretary of State may prescribe an official bond form. (b) A notary public that performs notarizations either remotely or electronically and by means of audio-video communication shall obtain and maintain a surety bond in the amount of $25,000 from a surety or insurance company licensed to do business in this State, and this bond shall be exclusively conditioned on the faithful performance of remote notarial acts or electronic notarial acts by means of audio-video communication. When a notary is required to hold both the $5,000 bond and the $25,000 bond, one bond totaling $30,000 shall satisfy the provisions of this Section. (c) The bonding company issuing the bond to a notary public or an electronic notary public shall submit verification of the bond information for the notary to the Secretary of State in a format prescribed by the Secretary of State.(Source: P.A. 102-160, eff. 6-5-23 (See Section 91 of P.A. 103-562 for effective date of P.A. 102-160).) |