Tennessee Motor Vehicle Dealer (MVD) Bond Raised To $50,000

TennesseeThe state of Tennessee enacted a new law referred to as HB 2809. The new MVD (motor vehicle dealer) law raised the amount of the required license bond from $25,000 to an amount of at least $50,000; it also prohibits the use of letters of credit. The present law allowing the use of a certificate of deposit was preserved.

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. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.

One Comment


Why???? Stupid..puts alot of car dealers struggling in a worse spot..no reason for this..last year I payed 125..this year 875..way to go people..get that economy going..


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