If you are engaged as a qualified nonpublic school receiving more that $50,000 in scholarship donations from a school tuition organization in Louisiana, you are required under the Louisiana Revised Statutes 47:6301(2)(B) to file an Louisiana School Tuition Organization Scholarship 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 Louisiana School Tuition Organization Scholarship Bond holds you accountable for your business decisions.
By possessing a Louisiana School Tuition Organization Scholarship Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.