"...you always have to have a certificate from the Department of Financial Services saying that you're licensed to issue a surety bond," he said, referring to the missing certificate of solvency under Section 1111 of New York Insurance Law."
Adam Pollock, a former assistant attorney general in New York, said, "This bond is deficient for a number of reasons... Including that the company doesn't appear to be licensed in New York and doesn't appear to have enough capital to make this undertaking."