Arkansas adds surety bond requirement for low-speed recreational vehicle owners

recreational

Arkansas SB 934 was passed in April and made changes to the Arkansas Motor Vehicle Commission Act by revising and adding surety requirements to a variety of vehicles. Like motorcycles, all-terrain vehicles and other recreational vehicle owners, owners of low-speed vehicles will be required to file a $25,000 surety bond in order to hold a license.

This legislative change also adjusted the surety requirement for recreational vehicle dealers. Each dealer will have to post a $50,000 bond to conduct business in the state. If a dealer owns multiple auto dealer locations, an additional $25,000 bond must be posted for each location.

To read the full text of the bill, click here.

If you need a surety bond in Arkansas or any other state, contact SuretyBonds.com online 24/7 or by phone at 1 (800) 308-4358 Monday through Friday, 8 a.m. to 7 p.m. CST. You’ll be connected with an expert surety specialist who will walk you through each step of the bonding process.

Sign Up for Surety News!




About the Author

Jon Gottschalk
Jon Gottschalk is the Senior Marketing Director for Suretybonds.com and regularly blogs at the Surety Bond Insider to keep consumers informed on new legislation and updates in the commercial surety industry. He is also a licensed property & casualty insurance producer in Missouri.