Governor Terry Branstad signed Iowa SB 2249 into effect on April 4th, 2012. The new law allows motorcycle dealers to sell used motorcycles at motorcycle rallies. To do so, the dealer needs to get a permit for the rally and obtain a $50,000 Iowa motorcycle dealers surety bond. To check out the regulations regarding the Used Motorcycle Rally Permit, visit the Iowa Department of Transportation Web site.
A license and permit bond is a type of commercial bond that protects consumers by ensuring businesses perform their duties according to the regulations set by the government. A surety bond is necessary for many professional licenses and permits, but not all.
You can see the bill on Iowa’s Legislature Web site here.
If you need a bond in Iowa or anywhere else, SuretyBonds.com can help. To get your bonding process started quickly and easily, call 1 (800) 308-4358, or contact a surety specialist online.
Dealers will main the original bond form to:
Iowa Department of Transportation
800 Lincoln Way
Ames, IA 50010