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.
- Those that fail to submit all 2016 dealer renewal documents and fees through the LUMVC by December 31st must do so and pay a late penalty of $100.
- If we receive all 2016 renewal documents and fees beginning February 1st through March 31st, the $100.00 late penalty will remain in effect but your effective date of licensure will be the date all documents and fees are received in the LUMVC office.
- Beginning April 1st, if you were licensed the previous year, renewal documents will not be accepted. You must provide all new licensure documents (applications, surety bond, insurance, zoning form, picture of sign, and phone listing) and all fees. The $100. 00 late penalty will remain in effect.
- Failure to renew by January 31st will result in your license status changing to Lapsed.