$25,000 New York Mobility Vehicle Dealer Bond

10/02/2011

SB 2913/AB 4298: License Bond – Mobility Dealers

Mobility dealers would be subjected to existing licensing and bond requirements for motor vehicle dealers. Anyone who sells more than five mobility vehicles in a year is considered a Mobility dealer. These vehicles are specially equipped to transport a person with a disability and include mechanical devices such as a wheel chair or ramps. Under current law a 10K bond must be posed by motor vehicle dealers if they sold less than 200 vehicles in a calendar year. A 25K will be required if the dealer sells more than 200 vehicles in a calendar year.

NY Sales Tax Bond required for Sports Ticket Vendors

09/29/2011

A bond would be required to be posted in connection with review processes for tax assessments made by local authorities on the sale of tickets for sporting events. Vendors selling the tickets would be responsible for the tax. If there are disputes against the tax or people seek a refund will be required to deposit an amount equal to the tax and any penalties due, along with a surety bond for the costs of the proceeding. The surety bond company must be licensed in that particular state as well.

$5,000 Surety Bond for NY Intercity Bus Passenger Services

09/25/2011

This bond would establish a permit system for intercity bus passenger services. This would be installed in cities that have a population of one million or more. A surety bond in the amount of $5,000 would be required in connection with the permit. The bond would be posted to ensure the payment of all civil penalties imposed on the permitted for violations of any permit requirements or restrictions.

New York Pre-paid Calling Services

09/23/2011

Pre-paid calling services would be regulated under this bill requiring such providers of this service to post a surety bond or other security in the amount of $50,000. They must also obtain a certificate to operate in the state with this bond requirement. Distributors of prepaid calling cars must also post a surety bond. The bond must be in the amount of at least $10,000. Sales exceeding $50,000 by the distributors are then required to post a bond in the amount of $25,000.

New York Court Bond for Child Custody Cases

09/18/2011

SB 2627: Court Bond – Custody Cases

This bond would be required in child custody cases if the court determined there is a risk that a noncustodial parent would flee with the child. The surety bond needed to be posted would be in an amount determined by the court. This would be for the security of the child’s return from the noncustodial parent to the custodial parent at the end of any visitation period.

New York Debt Collection Agency Bonds

09/16/2011

SB 1439: License Bond – Debt Collection Agencies

Debt collection agencies would be required to be licensed and post a surety bond, indemnity agreement, or an irrevocable letter of credit. This must be payable to the people of New York, and the bond would be based on the number of persons employed by the licensee. The bond requirement would allow for a 10K bond to be posed for one to four employees; a 25K bond for five to nine employees; 50K bond for 10 to 20 employees and a 75K bond for 20 or more employees. The liability of the surety would be limited to the face amount of the bond. This would be regardless of the number or nature of claims made against the bond for the number of years the bond remains active.