If you are engaged in the operation of a title pledge company in Mississippi you are required under section 75-67-401 et. seq. of the Mississippi Code to file a Mississippi Title Pledge 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 Mississippi Title Pledge Bond holds you accountable for your business decisions.
By possessing a Mississippi Title Pledge Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.