West Virginia Senate Bill 04 will change a few of the requirements for anyone acting as a notary in West Virginia beginning July 01, 2014. These changes will include the requirement of a surety license bond as well as several other new requirements. Changes will affect everyone in West Virginia who has a notary license regardless of where they do business in West Virginia.
Uniform Law on Notarian ActsAlthough the name of the law may sound peculiar, there is no question that it is indeed enforceable and will be implemented across the state. Before this bill there had not been a requirement for a notary in West Virginia to have a license bond, which pledges the notary to act within legal and ethical boundaries in the course of their job. It also binds them to the Code of West Virginia, as set by legislature. In addition, the new bill will enact the following:
- Notary commission is reduced from ten years to five years
- Notaries can now charge $5 per notary act instead of the prior $2
- Notaries can now notarize electronically, called e-notarization
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West Virginia Auto Dealership RequirementsLuckily for West Virginia the requirements are very simple. If you want to open or extend a dealership into the Mountain State of Virginia you only need to post a $25,000 Motor Vehicle Dealer Bond. It doesn’t matter how many trucks, cars, motorcycles or any other kind of vehicle you sell, the bond amount is the same. It doesn’t even matter if it is used vehicles or new ones. The bond you need to post is still the same in West Virginia. Luckily it is just that easy to do. Especially if you have someone like BuySurety to help you out!
Maryland Car Dealership BondsIf you want to open an auto dealership in Maryland, you will need to pay close attention to the type of vehicle and how many you want to sell. That is because the regulations regarding the posting of car dealer bonds in Maryland are pretty detailed. Here is the lowdown, straight from the Maryland DMV website:
Type of Business
Number of Vehicles Sold or Transferred
Bond Amount Required
|New Vehicle Dealer License||1-500 501-1,000 1,001-2,500 Over 2,500||$50,000 $75,000 $100,000 $300,000|
|Used Vehicle Dealer License||1-250 251-500 501-1,000 1,001-2,500 Over 2,500||$15,000 $25,000 $35,000 $50,000 $150,000|
|Wholesale Vehicle Dealer License||1-250 251-500 501-1,000 1,001-2,500 Over 2,500||$15,000 $25,000 $35,000 $50,000 $150,000|
|Motorcycle Dealer License (new vehicles)||1-500 501-1,000 1,001-2,500 Over 2,500||$50,000 $75,000 $100,000 $300,000|
|Motorcycle Dealer License (used vehicles)||1-250 251-500 501-1,000 1,001-2,500 Over 2,500||$15,000 $25,000 $35,000 $50,000 $150,000|
|Emergency Vehicle Dealer (new vehicles)||1-500 501-1,000 1,001-2,500 Over 2,500||$50,000 $75,000 $100,000 $300,000|
|Emergency Vehicle Dealer (used vehicles)||1-250 251-500 501-1,000 1,001-2,500 Over 2,500||$15,000 $25,000 $35,000 $50,000 $150,000|
District of Columbia Auto Dealer BondsLuckily, for anyone considering opening up an auto dealership in the District of Columbia, it is not anywhere near as complicated as in Maryland. There are, however, several levels of surety bonds, depending on whether your dealership also offers the ability to repair vehicles as well as sell them. They all must expire on October 31st each year. Here are the details for this:
- New and Used Vehicles $25,000 Vehicle Dealer Bond
- Includes Auto Repair (5 or less employees) $2,000 Auto Repair Dealer Bond
- Includes Auto Repair (more than 5 employees) $5,000 Auto Repair Dealer Bond
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West Virginia Auto Dealer BondsThe Mountain State is well named, for driving through it is like riding a beautiful roller coaster. If you are considering getting your license for a vehicle dealership in West Virginia, you will be happy to know that the requirements are the same for both used and new vehicles of all types. You will simply need to post a Motor Vehicle Dealer Bond for $25,000 as part of the licensing procedure.
Ohio Auto Dealer Bond RequirementsThe Buckeye State has plenty of opportunities for anyone considering opening a car dealership in Ohio. If you want to do so, you will need to post two separate surety bonds for each dealership:
- A $25,000 Deputy Registrar Surety Bond
- A $25,000 Motor Vehicle Defect (MVD)Surety Bond
Car Dealership Requirements in MichiganYou have to assume that Michigan residents are stubborn, why else would they have decided to be called The Wolverine State? But these hardy people who are known for their pragmatism are smart enough to keep their regulations to a simple requirement. In Michigan you are required to post a $10,000 Motor Vehicle Bond for the dealership regardless of whether it sells new or used vehicles. It certainly keeps things tidy and easy to understand.
Getting Bonded the Easy WaySo now that you know what is required, are you ready to get bonded? Why not drop in to our handy surety bonds site BuySurety and find out just how fast and easy it is? We can help you with qualifying for a motor vehicle bond in any state and regardless of your credit rating. Come and talk to us today, and get that auto dealer bond you need now.
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A State Judicial Hearing Board has been called upon to review the actions of Putnam County Family Court Judge William Watkins. This is after having the judge earlier this year be reprimanded by the same board and told he would have to post a performance bond for swearing at and belittling defendants in his courtroom. The board is recommending that the judge be suspended without pay until 2016. For the full details of the hearing, including testimony from several defendants who complained to the board regarding the judge’s behavior, be sure to .
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Lawmakers in W. VA. have moved closer this week to overhauling regulation of shale gas drilling in the Marcellus shale deposit field. A new bill passed by the state Senate to the House contains similar requirements as an interim bill that was passed earlier this year, and it outlines a plan for a shale drilling industry that has been working under conventional drilling regulations and the interim bill. Of interest to the surety bond professionals is the requirement that drillers will be required to produce a $50,000 performance bond to meet compliance with the new regulations. If there are multiple wells drilled, a $250,000 blanket surety bond may be obtained to meet the surety bond requlations. What is Marcellus Shale? The Marcellus Shale is a black, low density, carbonaceous (organic rich) shale that occurs in the subsurface a mile or more below much of Ohio, West Virginia, Pennsylvania and New York. Also known as the Marcellus Formation, it also runs deep under some small sections of Maryland, Kentucky, Tennessee, and Virginia. It has been estimated that the Marcellus might actually contain more than 500 trillion cubic feet of natural gas, and that as much as 10% of that, or 50 trillion cubic feet, could be harnessed. That much natural gas could potentially supply the entire United States with natural gas for up to two years and be worth upwards of $1 trillion. Read more about Marcellus shale: Geology.com, Wikipedia.org. Read more about the West Virginia bill here: The State Journal Shale Gas Primer – U.S. Department of Energy ( )
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