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Section 23

Unlawful Dealer Activities

23.2 Failure to Maintain Adequate Bond

  1. 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!

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