Motor Vehicle Dealer Changes since 2018Effective August 28, 2018, per Senate Bill 707, the minimum bond requirement increased from $25,000 to $50,000. Bonds, or riders increasing coverage, in the amount of $50,000 must be obtained to continue operation for the remainder of the 2018 dealer licensure year.
House Bill 1963 requires a $100,000 bond amount for dealers who have delayed delivery of 30+ days or are otherwise selling vehicles before the dealer has title to the vehicle. |
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