What is a notary bond primarily intended to do?

A notary bond is designed to protect the public by ensuring that a notary will perform their duties honestly and in accordance with the law. If a notary makes a mistake or engages in misconduct that causes financial loss to a third party, the bond comes into play. It allows those who have been wronged to file a claim against the bond for compensation up to the bond's value. This financial protection helps reinforce the trust placed in notaries, as it provides a means for those affected by any errors or misconduct to recover their losses.

In this context, the other options do not accurately reflect the primary purpose of a notary bond. For instance, while bonds may indirectly provide some financial protection against lawsuits, that is not their main function. The bond does not serve to increase the notary's income or cover legal fees; rather, it is a requirement for safeguarding the public interest.