Alabama Auto Dealer Bond Requirement Increase
A new bill was enacted in Alabama titled HB 393, which changes the amount of the license bond for a new motor vehicle dealer, used motor vehicle dealer, motor vehicle rebuilder, or motor vehicle wholesaler so that it must be for not less than $50,000 or another amount that the Department of Revenue requires. Prior law required a $25,000 bond. The new law specifies that the bond would secure the payment of the dealer's tax liability and any penalties imposed on the dealer. The bill also would require a wholesale motor vehicle auction dealer to meet the license bond requirements.
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If you're ready to get a free surety bond quote to meet this new surety bond requirement, you can simply apply online. We are the nation's largest volume bond producer, and provide the lowest rates in the industry.
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