February 29, 2016
FMC Additional Location Addition/Deletion and Address Change Procedural Update
With the new OTI regulations that Avalon announced on Nov. 5, 2015, the FMC will still need to be notified of the addition/deletion and address changes of branches for OTI bonds. Although a bond rider is no longer required, email notification to the FMC is still required and we confirmed is adequate to notice the FMC of these changes.
The email may be sent to firstname.lastname@example.org by the OTI/bond principal directly, but please continue to copy Avalon so we may update our account records and/or policies as applicable.
As a result of this change, Avalon will no longer maintain location information on your OTI Bonds. If you have inquiries or updates to be made to your branch locations, please be sure to reach out to your Avalon Account Manager or representative.
Avalon does need to be notified for name and address adjustments to the main principal on OTI bonds as these changes still require riders.
Please contact the Centralized Bond Unit at 847-700-8185/847-700-8183 or email email@example.com.