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.
- November 1st is the deadline to renew your dealer and salesperson licenses to ensure that you will receive your licenses by January 1st (ALL Salesperson licenses expire annually on December 31st).
- If you do not renew your license(s) by December 31st, a $100 late fee will apply.
- WARNING: Renewal documents will not be accepted after February 1st. After February 1st, you must provide all initial license requirements plus the $100 late fee.
- The renewal process takes approximately 14 business days.