Arkansas Recreational Vehicle Dealer Bond
This new legislation requires new recreational vehicle dealers to be both licensed and post a surety bond. Dealers are recreational vehicles are required to post a $50,000 bond, and must have an additional $25,000 surety bond for each of the dealership’s branch licenses.
The Arkansas Recreational Vehicle Dealer Bond is required to indemnify any person damaged by a bonded dealer, which may result from some sort of violation of their dealer license with the state.
Furthermore, the bill states that the aggregate liability of the respective surety company for all claimants will not exceed the penal sum of the bond itself.