$25,000 New York Mobility Vehicle Dealer Bond

Category: Uncategorized
Published: Oct 2, 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.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.

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