New legislation was introduced on April 27th, 2009 in the state of Louisiana relating to marine product dealers. The new law, which is labeled SB 175, provides for an appeal process to the new law’s repurchasing requirements for marine products dealers that conclude all business operations. In order to compensate the prevailing party, an appeal bond is required for compliance and cooperation with the Louisiana used Motor Vehicle Commission’s decision.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.