New Requirements for Surety Bonds for Manufactured Homes

Written by JoAnn Smith on November 20th, 2013. Posted in Idaho, Indemnity Bonds, Legislation, License and Permit Bonds, North Dakota, South Dakota

     manufactured homes
manufactured homes may need surety bonds
Some changes have been made recently regarding the regulations for manufactured homes. In several states this has also meant that state legislature has changed the regulations regarding the requirements for surety bonds as part of the manufactured homes dealer licenses. These may also have affected mobile home manufacturers, mobile home service businesses and other companies that deal with mobile homes and manufactured homes. These tend to be state-by-state changes, and the ones that affect surety bond requirements are named below:

Idaho

Service companies that provide service or repair or even tear-down of manufactured homes have in the past been required to provide a $5,000 license surety bond. This requirement has been repealed. Manufactured home installers will still be required to provide a surety bond as part of their license, however, as they are not considered a service provider. This change will extend to include mobile homes as well as manufactured homes.

North Dakota

The existing requirement for mobile home dealers to post a $10,000 permit surety bond has been increased to $50,000. In addition, dealers of manufactured homes are now going to be required to post the same surety bond amount as part of their licensing. Direct action is permitted on the bond with the aggregate liability limited to the bond amount.

South Carolina

A revision has been made to the licensing requirements for retail dealers of manufactured homes. The license will now require a credit score of 700 with a net worth of a minimum of $150,000. If the retailer cannot meet these requirements they will be then required to post a surety bond with the license.

License and Permit Bonds

Many states demand some type of license and permit surety bond as part of the licensing requirements. If you are considering a surety bond for your licensing needs, BuySurety can help. We provide permit and licensing bonds for all fifty states and for any kind of industry. Contact us today to find out how we can help you to meet all your surety bond requirement needs.

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Nebraska, South Dakota and North Dakota DMV Bond Requirements

Written by JoAnn Smith on October 12th, 2013. Posted in License and Permit Bonds, Motor Vehicle Bonds, Nebraska, North Dakota, South Dakota, Surety Bond Blog

If there is anything that Nebraska, South and North Dakota have in common it is wide open spaces and an independent frame of mind. But when it comes down to the requirements for a DMV bond for auto dealerships, these three states have quite different legal requirements. If you have been considering opening up an auto dealership in Nebraska or looking at expanding your dealership in either North or South Dakota, you might want to review the legal requirements for surety bonds we have listed here.

Nebraska Auto Dealer Surety Bonds

Luckily for many auto dealers, you can do most of the paperwork for your DMV license online in Nebraska. They will want to know if you are selling used cars or new cars, but the requirements for a surety bond are the same regardless. You will need to post a $50,000 DMV bond with your licensing as part of the requirements. Besides the bond, all you are required to submit are:
  • The name and contact information for the owner of the business
  • If there are partners in the business, their names and contact information
  • Where the business will be located, how big it will be and it’s hours of operation
  • Whether you plan to sell used vehicles, new vehicles or both

South Dakota Auto Dealer Bond Requirements

In South Dakota they are a bit more particular about what type of vehicle you plan to sell when it comes to your DMV licensing and the DMV bond that will accompany it. Maybe it is all those presidential faces looking down from Mt. Rushmore, who knows? In any event, you can’t even advertise a business that sells these things without a license and the surety bond that goes with it. Private sales are fine, but if you plan to open any kind of vehicle dealership in South Dakota, here are the rules:
  • If selling mobile homes, new autos and/or used autos – $25,000 surety bond
  • If selling boats – $20,000 surety bond
  • If selling trailers that are at least 2,000 pounds – $10,000 surety bond
  • If selling motorcycles and snowmobiles – $5,000 surety bond

North Dakota DMV Surety Bond for Licensing

It seems that the DMV in North Dakota like to keep things simple. They use the same licensing form for all types of dealerships. It doesn’t matter if you want to sell new vehicles, used vehicles, motorcycles, motor homes or trailers. They all require the same form, and they all require a $25,000 DMV surety bond with that form. The licenses all will expire on December 31st each year and will need to be renewed.

Get Your DMV Bond Quickly

Looking for a quick and easy way to get that DMV surety bond for your dealership? BuySurety can help you out with a fast phone call. Contact our offices today through our website and let them know what you need. Not sure? We can help with that too. Just tell us what state, what kind of license and we will walk you through the rest.

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Surety Bond Deadlines Coming Up Soon

Written by JoAnn Smith on June 26th, 2013. Posted in Alabama, Florida, Illinois, Latest News, License and Permit Bonds, North Dakota, Surety Bond Blog, Texas

     surety bond deadlines
Surety bond deadlines – Are you bonded?
From time to time we like to post a reminder that certain surety bond deadlines are coming up soon. Here are some key surety bond types that have expiration dates coming up soon, generally within the next 60 days. As always, if you have any questions of these or other surety bonds, be sure to give us a call. South Carolina – if you have a contractor’s license in the state of South Carolina your surety bond for that license is up for renewal when the license expires on June 30. This includes South Carolina contractors that have taken out surety bonds in the amount of $5000, $10,000 and $15,000. Be sure to contact us before July to ensure that your contractor’s license bond requirements are taken care of. Texas – if you need a permit bond for super heavy or oversize equipment, that renewal is coming up soon. August 31 is the deadline for renewal of the permit and the surety bond with. North Dakota – If you’re a fundraiser in state of North Dakota, then you need to remember that the fundraising bond that you are required to have is due to be renewed on September 1. Alabama – if you’re an auto dealer in the state of Alabama then you need to be aware that auto dealer bonds in that state need to be renewed by September 30. In addition, fundraisers in the state of Alabama will need to renew both their license and the surety bonds that go with them by September 30 as well. Illinois – Plumbing contractors will need to remember to renew both their license and the licensing bonds that go with them by the end of September. Florida – For anyone that is growing citrus in the sunshine state of Florida, it is good to be aware that citrus fruit dealer licenses and the agriculture dealer bonds that go with them will need to be renewed by the end of July. The amount of your surety bond will depend on the number of boxes that you sell, just as in years past. While these are by no means an exhaustive list of the surety bonds, license bonds and other types of bonds needed that are due for renewal we hope that this information is helpful. Many types of surety bonds connected to licensing or permits often need to be renewed on an annual basis. If you are unsure when or even if your bond needs to be renewed, be sure to give as a call.

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Surety Bond Bill Options for North Dakota in 2013

Written by JoAnn Smith on May 10th, 2013. Posted in Legislation, License and Permit Bonds, North Dakota, Surety Bond Blog, Tax and Fees Bonds

     north dakota surety bonds
Map of North Dakota
May 10, 2013 – There are currently two bills that are in the North Dakota legislature that deal with the question of surety bonds. The first will allow livestock and wool dealers to produce letters of credit or cash in place of the current requirements for the posting of a surety bond as part of the licensing procedure. The second bill will require upper management in limited liability companies to post a surety bond against their personal liability for the payment of company taxes. Both bills are currently in The House and are not yet slated for final passing.  

HB 1026: License Bond: Livestock and Wool Dealers

The State of North Dakota legislature has pre-filed House Bill 1026 and if it passes it would then rewrite the current livestock dealer laws. As it currently stands all livestock dealers and wool dealers are required to post a minimum $10,000 license surety bond as part of their license. The new bill would also allow them to use letters of credit or cash instead of the surety bond. As of January 23, 2013 the bill has been introduced and placed on the calendar. For a look at the text as it currently stands, you can read North Dakota House Bill 1026 online by using the link provided.  

HB 1106: Tax Bond

If passed, North Dakota House Bill 1106 would require that the general partners, managers and governors in a limited liability business that have control of, supervise or have the responsibility for tax returns and payments post a tax surety bond or certificate of deposit as a security to guarantee the payment of these taxes. The bill further makes these persons personally liable for any failure to pay taxes due. For a reading of the summary of this bill, placed in the legislative calendar as of January 24, 2013 you can use the link provided here.

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