Missouri DMV Surety Bond RequirementsAlthough the state has other cities that are larger, it is the state capital of Jefferson City that handles the issuing of DMV bonds for all the car dealerships in the state. Luckily those requirements are not that difficult to fulfill, since all dealerships, whether they sell used cars and trucks or new ones, have the same car dealer bond requirements. All dealerships are required to post a DMV surety bond in the amount of $25,000. The bonds must expire on December 31st of any given year, so it may be a good idea to get your surety bond at the beginning of the year.
Iowa Car Dealer BondsThe Hawkeye state is smack in the middle of the country. This means that you are close to everything or far from anything, depending on how you view it. Between the corn fields, there are quite a few car dealerships and all of them are required to carry car dealer bonds as part of their business operation. However, the requirements are pretty simple: every dealership must post a $50,000 car dealer bond regardless of whether they sell new or used vehicles. The Iowa Dept of Transportation in Des Moines will handle all the particulars when you register that dealership and get bonded.
Minnesota Dealer Bond NeedsThis is a big state and it stretches all the way up to the Canadian border. Folks in Minnesota are used to the cold, and one way you can tell is that they have a separate bond requirement for snowmobile sales. I would guess that there are quite a few of them sold in this state where the wind can get pretty chilly in the winter. Here are the requirements for a vehicle dealership auto dealer bond in Minnesota:
- New and Used Motor Vehicle Dealer Bond – $50,000
- DSB Bond( for snowmobiles, small horse trailers and motorized bicycles) – $5,000
Getting Your DMV Bond TodaySo if you are considering opening an auto dealership in Missouri, Iowa, Minnesota or any state for that matter, you are going to need a DMV bond. These are also sometimes called a car dealer bond as well. Whatever you end up calling them, you can be sure to find a great price on all your surety bonds with BuySurety. What is even handier, you can talk to our customer support folks and get information on pricing, qualifications and more. Just come by our site and check out the variety of surety bonds, including auto dealer bonds we can offer. Get your car dealer bond the fast easy way at a price you can afford today at BuySurety.
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With the housing business expecting to improve over the next few years, we can look forward to seeing legislation move towards home improvement contractors being more tightly licensed, especially when it comes to their contractor licensing bonds. One trend is that fewer and fewer states will allow a statewide home improvement contractors license. Most state boards are moving towards licensing for specific types of home improvement such as roofing, or making the licenses connected with a specific location or city.
Contractor Licensing Bonds Required
A good example of this is Iowa, which recently enacted legislation that would create a license and contractors licensing bonds requirement for sheet metal contractors. This will being these contractors into the fold with other home improvement contractor licensing requirements for the state. In Kansas they now require registration certification and a contractor licensing bond posting for anyone considering opening operations as a roofing contractor in the state.
In Oregon, contractors that assess home energy performance scores will need to have a contractors license and to obtain a surety bond in the amount of $10,000 in addition to fulfilling all the requirements of a home contractor for Oregon. In Texas and Oklahoma legislation was introduced to require roofing contractors to post surety bonds along with their new licensing requirements, but in both states the bill was fought and stopped.
More Surety Bond Changes
You can be sure that this is not the last you will hear about new contractor licensing bonds, however. In some states, the changes have been to remove surety bond requirements for licencing in related contractor businesses. For anyone that works as a radon mitigation or measurement professional in Kentucky, the surety bond requirements that were enacted last year have been revoked.
In addition, master plumbers and gas fitters in Alabama that were facing the possibility of new surety bond requirements for the coming year will be interested to hear that this bill has been defeated. The bill would have changed the current city and county bonds to a statewide bond. As noted earlier, that trend seems to be reversing itself as more and more states reject the concept of a statewide contractor surety bond requirement.
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- A $200,000 surety bond for property damage
- A $200,000 surety bond for personal liability
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Senate File No. 2289: Financial Responsibility—Contracts During DisastersThe Iowa Senate Bill 2289 allows in the event of a disaster for the Department of Human Services to accept surety bonds or other financial responsibility documents for other State contracts bonds to be applicable for implementing quickly local administrative services. These grant administrative service contracts are allowed in lieu of any additional bond only if the bond requirements are sufficient for the services required during the disaster. This bill was enacted on April 12, 2012 and came in effect on July 01, 2012. For a complete reading of Iowa Senate Bill 2289 please follow the link to the legislative site provided.
House File No. 675: Release of Lien BondsThe requirements that state who can post a bond to discharge a mechanic’s lien have been changed by Iowa House Bill 675. Previously the bond could only be posted by the principal, owner, contractor or intermediate subcontractor but the new law will no longer name specifically who can post the bond. This bill was enacted on April 27 2012 and goes into law on January 01, 2013. To read the complete text to HB675, please follow the link provided.
Senate File No. 2249: Permit Bond—Motorcycle RalliesThe Senate Bill 2249 requires anytime there is a display, offer for sale or negotiation of sales of used motorcycles at a motorcycle rally that runs between three and seven days long that all Iowa motorcycle dealers obtain a temporary permit and post an auto dealer surety bond for $50,000 that is currently required for motor vehicle dealers. This bond is on the condition that it is in compliance with all other laws. For those dealers at the rally that are from out of state, they can apply for a temporary permit provided:
- They have a valid motor vehicle dealer license.
- The license includes motor cycle sales.
- The state of issue would allow temporary permits for Iowa motorcycle dealers.
Senate File No. 2311: Financial Responsibility—Pesticide ApplicatorsWith the enactment of Senate Bill 2311, when a commercial pesticide application business is required to post a surety bond or other financial instrument the amount of the bond has been increased. Under the old law the amount was a minimum of $50,000 for the bond or financial security. The new bill will require that amount to now be a minimum of $250,000. This bill was enacted on April 19, 2012 and went into effect as of July 01, 2012. To read the entire text of Senate Bill 2311, please be sure to follow our link provided in this post.
HB 2465: License BondUnder the new Federal Health Care Law, anyone who is charged with assisting enrollees in the State’s health care insurance exchange program as a “navigator” will be required to post a licensing bond or some other type of financial responsibility. This house bill was enacted on May 25, 2012 and went into effect on July 01, 2012. To see the full text of House Bill 2465 you can follow our link to the legislative site.
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