New Surety Bond Requirement

During the 2016 Regular Legislative Session, amendments to La. R.S. 32:791(G)(1) became Act 288 effective August 1, 2016.  Act 288 requires all LUMVC licensees to increase the required surety bond to $50,000.

 

For New Dealers:

Must complete the new surety bond form for $50,000.

 

For dealers with license expiring on December 31, 2016:

Submit a Continuation Certificate along with a Change Rider or Endorsement increasing the bond amount to $50,000. This must be submitted along with your paperwork when you renew your licenses. Your renewed licenses will not be issued without your bond Continuation Certificate AND Change Rider / Endorsement.

 

For dealers with license expiring on December 31, 2017:

Submit a Change Rider or Endorsement increasing the bond amount to $50,000. Deadline for this submission is December 31, 2016. If Change Rider or Endorsement is not submitted by the deadline, all licenses are subject for suspension.