Lance Surety Bond Associates, Inc.

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.

This bill will provide for an additional method for determine the limitation on the appeals bond required under existing law in medical malpractice suits. Under current law the bond amount is capped at $25 million for any civil action. The new bill would allow for the bond amount to be capped at the lesser of either the amount of the judgment, or the amount of the appellant’s medical malpractice insurance coverage. This is only applicable to the action sought against him or her.