Unlawful Dealer Activities
23.2 Failure to Maintain Adequate Bond
- You must maintain a bond in the amount of $50,000 to sell vehicles at retail
and wholesale, unless you sell wholesale only and less than 25 vehicles per
year. In that instance you must maintain a $10,000 bond. Motorcycle-only dealers
may also use the lower $10,000 bond. If the bond amount drops below its required
level, or if it expires - even though no fault of your own (example: the bonding
company goes bankrupt) you will lose your dealers license, automatically!