Nursing Homes operating in Iowa that are responsible for holding patient funds are required under the Iowa Code Section 81.13(5) et. seq. to file an Iowa Nursing Home Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Iowa Nursing Home Bond holds you accountable for your business decisions.
By possessing an Iowa Nursing Home Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.