{"id":19041,"date":"2020-09-02T11:00:01","date_gmt":"2020-09-02T16:00:01","guid":{"rendered":"https:\/\/www.suretybonds.com\/blog\/?p=19041"},"modified":"2026-01-27T14:12:47","modified_gmt":"2026-01-27T20:12:47","slug":"missouri-motor-vehicle-dealer-legislation-updates","status":"publish","type":"post","link":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/","title":{"rendered":"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates"},"content":{"rendered":"\r\n<p>Effective August 28, 2020, <a href=\"https:\/\/legiscan.com\/MO\/text\/HB1963\/2020\">Missouri House Bill 1963<\/a> modified an existing law by introducing an increased surety bond requirement for motor vehicle dealers. Under the bill, dealers must post a $100,000 surety bond or irrevocable letter of credit before obtaining a written agreement citing a delayed delivery for a vehicle\u2019s certificate of ownership.<\/p>\r\n<p>Essentially, licensed dealers are required to have a $100,000 surety bond or irrevocable letter of credit before selling vehicles without a certificate of ownership, instead of the former $50,000 surety bond requirement.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>Also, the bill details regulations for personalized license plates and motorcycle operators.<\/p>\r\n\r\n\r\n\r\n<h2>What is the difference between a surety bond and an irrevocable letter of credit?<\/h2>\r\n\r\n\r\n\r\n<p>A surety bond is a contract between the surety company, the obligee, and the person or business acquiring the bond. In this case, the obligee is the Department of Revenue. The <a href=\"https:\/\/dor.mo.gov\/\"><strong>Missouri Department of Revenue<\/strong><\/a> oversees licensed motor vehicle dealers in the state of Missouri. With a surety bond, the obligee has a guarantee that the person obtaining the bond will act according to the law and in good faith. Therefore, a surety bond ensures the financial protection of the obligee and consumers.<\/p>\r\n\r\n\r\n\r\n<p>An irrevocable letter of credit is similar to a surety bond in that they are both financial guarantees. However, a bank or similar financial institution backs an irrevocable letter of credit instead of a surety company.<\/p>\r\n<h2>How do I get a motor vehicle dealer surety bond in Missouri?<\/h2>\r\n<p>\r\n\r\n<\/p>\r\n<p>You can apply for a <a href=\"https:\/\/www.suretybonds.com\/states\/missouri\/motor-vehicle-dealer-bond\">$100,000 Missouri auto dealer bond online 24\/7<\/a> or call <strong>1(800)308-4358<\/strong> to speak with a surety expert about your bonding needs.<\/p>\r\n\r\n\r\n\r\n<h2>How do I get a Missouri auto dealer license?<\/h2>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.suretybonds.com\/guide\/missouri\/auto-dealer-license\"><em><strong>Find our latest comprehensive Missouri Auto Dealer License Guide here.<\/strong><\/em><\/a><\/p>\r\n<p>Applicants seeking a motor vehicle dealer license are required to furnish and submit an application to the Dealer Licensing Section of the Missouri Department of Revenue.<\/p>\r\n<p><strong>The application requires the following information:<\/strong><\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>birthdates, social security numbers, full names, and addresses of owners<\/li>\r\n<li>classification of type of operation and units sold<\/li>\r\n<li>number of license plates requested<\/li>\r\n<li>proof of surety bond purchase, inspection, and certification<\/li>\r\n<li>payment of appropriate fees<\/li>\r\n<li>franchise trade name information<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Complete the application <a href=\"https:\/\/mydmv.mo.gov\/businesslicensing\/Dealer\/NewApp\">online<\/a> or in <a href=\"https:\/\/dor.mo.gov\/forms\/4682.pdf\">print form<\/a>. Submit all applications to the Dealer Licensing Section, Post Office Box 43, Jefferson City, MO 65105-0043.<\/p>\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"<p>Effective August 28, 2020, Missouri House Bill 1963 modified an existing law by introducing an increased surety bond requirement for motor vehicle dealers. Under the bill, dealers must post a $100,000 surety bond or irrevocable&#8230;<\/p>\n","protected":false},"author":51,"featured_media":19042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[],"featured_image_src":"https:\/\/www.suretybonds.com\/blog\/wp-content\/uploads\/2020\/09\/Copy-of-Copy-of-Blog-Post-Header-Template-1.png","author_info":{"display_name":"Carly Levine","author_link":"https:\/\/www.suretybonds.com\/blog\/author\/carlysuretybonds-com\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates | Surety Bond Insider<\/title>\n<meta name=\"description\" content=\"Learn how Missouri House Bill 1963 changed license and surety bond regulations for Missouri auto dealers who delay vehicle title delivery.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates | Surety Bond Insider\" \/>\n<meta property=\"og:description\" content=\"Learn how Missouri House Bill 1963 changed license and surety bond regulations for Missouri auto dealers who delay vehicle title delivery.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety Bond Insider\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/suretybond\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-02T16:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-27T20:12:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.suretybonds.com\/blog\/wp-content\/uploads\/2020\/09\/Copy-of-Copy-of-Blog-Post-Header-Template-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"910\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Carly Levine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@suretybonds\" \/>\n<meta name=\"twitter:site\" content=\"@suretybonds\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carly Levine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates | Surety Bond Insider","description":"Learn how Missouri House Bill 1963 changed license and surety bond regulations for Missouri auto dealers who delay vehicle title delivery.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/","og_locale":"en_US","og_type":"article","og_title":"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates | Surety Bond Insider","og_description":"Learn how Missouri House Bill 1963 changed license and surety bond regulations for Missouri auto dealers who delay vehicle title delivery.","og_url":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/","og_site_name":"Surety Bond Insider","article_publisher":"https:\/\/www.facebook.com\/suretybond","article_published_time":"2020-09-02T16:00:01+00:00","article_modified_time":"2026-01-27T20:12:47+00:00","og_image":[{"width":910,"height":512,"url":"https:\/\/www.suretybonds.com\/blog\/wp-content\/uploads\/2020\/09\/Copy-of-Copy-of-Blog-Post-Header-Template-1.png","type":"image\/png"}],"author":"Carly Levine","twitter_card":"summary_large_image","twitter_creator":"@suretybonds","twitter_site":"@suretybonds","twitter_misc":{"Written by":"Carly Levine","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/","url":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/","name":"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates | Surety Bond Insider","isPartOf":{"@id":"https:\/\/www.suretybonds.com\/blog\/#website"},"datePublished":"2020-09-02T16:00:01+00:00","dateModified":"2026-01-27T20:12:47+00:00","author":{"@id":"https:\/\/www.suretybonds.com\/blog\/#\/schema\/person\/32115ceb0743917450df68ebf13e01c0"},"description":"Learn how Missouri House Bill 1963 changed license and surety bond regulations for Missouri auto dealers who delay vehicle title delivery.","breadcrumb":{"@id":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.suretybonds.com\/blog\/missouri-motor-vehicle-dealer-legislation-updates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.suretybonds.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Bond Legislation Updates","item":"https:\/\/www.suretybonds.com\/blog\/category\/legislation-updates\/"},{"@type":"ListItem","position":3,"name":"Shifting Gears: Missouri Motor Vehicle Dealer Legislation Updates"}]},{"@type":"WebSite","@id":"https:\/\/www.suretybonds.com\/blog\/#website","url":"https:\/\/www.suretybonds.com\/blog\/","name":"Surety Bond Insider","description":"News, Legislation and Updates for the Surety Industry","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.suretybonds.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.suretybonds.com\/blog\/#\/schema\/person\/32115ceb0743917450df68ebf13e01c0","name":"Carly Levine","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.suretybonds.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b368a3de631ea265897c4962acec2fde?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b368a3de631ea265897c4962acec2fde?s=96&d=mm&r=g","caption":"Carly Levine"},"description":"Carly is a senior at the University of Missouri studying Communications with an emphasis in Mass Media. She is a member of the marketing department and outreach team for SuretyBonds.com, a leading provider of online bonding for clients nationwide. She loves creative writing, reading, and most importantly, sushi.","url":"https:\/\/www.suretybonds.com\/blog\/author\/carlysuretybonds-com\/"}]}},"jetpack_featured_media_url":"https:\/\/www.suretybonds.com\/blog\/wp-content\/uploads\/2020\/09\/Copy-of-Copy-of-Blog-Post-Header-Template-1.png","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/posts\/19041"}],"collection":[{"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/comments?post=19041"}],"version-history":[{"count":7,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/posts\/19041\/revisions"}],"predecessor-version":[{"id":21761,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/posts\/19041\/revisions\/21761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/media\/19042"}],"wp:attachment":[{"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/media?parent=19041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/categories?post=19041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretybonds.com\/blog\/wp-json\/wp\/v2\/tags?post=19041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}