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Legislative updates and editorial columns from the surety experts at JW Surety Bonds; the largest surety bond company in the U.S.

New Jersey Recreational Vehicle Dealer Bond




New JerseyIn the state of New Jersey, a new law was enacted regarding vehicle sales. The new law, titled SB 521, decreases the required surety bond amount to perform an off-site sale of recreational vehicles (RVs) from $500,000 to $10,000. SB 521 did not alter the bond amount required for an off-site motor vehicle sale, but it would have trimmed down the bond amount to $10,000 for such a sale. The new law states that if the surety bond is cancelled before the conclusion of the off-site sale for both motor vehicles and RVs, the dealer must acquire and file a substitute surety bond without delay with the Chief Administrator of the Motor Vehicle Commission. SB 521 became active upon enactment.


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