Code of Maine Rules
29 - DEPARTMENT OF THE SECRETARY OF STATE
250 - BUREAU OF MOTOR VEHICLES
Bureau of Motor Vehicles
Chapter 110 - NON-GOVERNMENTAL REGISTRATION AGENT and RESIDENT AGENT REQUIREMENTS
Section 250-110-J - BONDING REQUIREMENT

Universal Citation: 29 ME Code Rules ยง 250-110-J

Current through 2024-38, September 18, 2024

1. A Non-governmental Registration Agent shall maintain a bond in a form approved by the Bureau and in the amount of $25,000.

2. The bond shall be payable to the State of Maine, Department of Secretary of State, Bureau of Motor Vehicles, and shall be filed with the Bureau within ten (10) days of receipt of authorization to serve as a registration agent.

3. The Bureau may invoke the bond in the event the registration agent is in breach of the terms and conditions of authorization, or refuses or fails to pay registration-related taxes and fees.

4. A Non-governmental Registration Agent shall maintain the bond for the entire period for which authorization to act as a registered agent is in effect. In the event of cancellation, the bond must be replaced with no lapse of coverage.

5. The Bureau must be notified at least 30 days in advance of any cancellation.

6. Failure to maintain the bond may result in the suspension or revocation of authorization.

7. The authorization to serve as a Non-governmental Registration Agent that has suspended for failure to maintain the required bond may be restored when a bond is acquired.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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