Indiana Motor Vehicle Dealer Bonds
Motor Vehicle Dealers must post a surety bond in the amount of $25,000 in favor of the State according to HB 1376. The existing law had already required a license for this type of business. This bond must be obtained in order to instill the payment of fines, penalties, costs and fees that the Secretary of State assessed. This bond will secure the payment of damages owed to persons obtaining a judgment against the dealer for violations of the law. This became effective on July 1, 2009.
Latest posts by Victor J. Lance, President/Owner (see all)
- A Step-by-Step Guide on How to Become a Freight Forwarder in 2021 - June 14, 2021
- Your Complete Georgia Dealer License Guide  - May 27, 2021
- The Full South Carolina Dealer License Guide  - May 26, 2021