3 ms·
His point is that the bond is too large, and that's _just_ for California. In the linked quora post, it was specifically pointed out that there are 43 other sta
by 18pfsmt 15y ago
His point is that the bond is too large, and that's _just_ for California. In the linked quora post, it was specifically pointed out that there are 43 other states where one has to do the exact_same_thing where the bonds vary from $10k-$1M.
Edit: Check out PayPal's list: https://www.paypal-media.com/licenses https://www.paypal-media.com/licenses
- tptacek 15y agoYou don't actually have to pay the $500k. A new business with no history (good or bad) might pay $25k to post a licensing bond. I don't have anything to say about the 43 other states that want bonds to conduct money transfers in them, but some of the coverage here seems a tad breathless.
- 18pfsmt 15y agotptacek: Perhaps it is breathless, but I think many of us find it interesting. States noticeably absent from Paypal's licenses: New Mexico, South Carolina, Georgia (heavy banking industry), Rhode Island, New York (heavy banking industry), and Nevada (heavy gambling). I might put together a spreadsheet this evening if I have time.