South Dakota Administrative Rules
Title 61 - Department of Public Safety
Article 61:24 - VEHICLE DEALER LICENSING
Chapter 61:24:03 - Conduct of business
Section 61:24:03:10 - Dealer surety bond

Universal Citation: SD Admin Rules 61:24:03:10
Current through Register Vol. 51, page 70, December 27, 2024

Upon application for an initial dealer license, a dealer shall furnish the original surety bond before issuance of a license.

The original surety bond must be of a continuous nature unless it is revoked or canceled by the surety company, at which time the surety company shall notify the department of such cancellation by certified mail.

Upon renewal of a dealer license, the dealer shall verify possession of a surety bond on the renewal license notice that is sent out by the department. The dealer shall verify on the renewal license notice that a surety bond is in effect and that the surety bond must be maintained and continued for the entire license period.

The surety bond must be made available for inspection at the dealer's place of business at any time upon request by an inspector or enforcement officer.

General Authority: SDCL 32-6B-7, 32-6C-4, 32-7A-5, 32-7B-20.

Law Implemented: SDCL 32-6B-7, 32-6C-4, 32-7A-5, 32-7B-6

Disclaimer: These regulations may not be the most recent version. South Dakota 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.