Illinois Designated Agent for Manufactured Homes Bond Guide
If you’re selling manufactured homes in Illinois, you’ll need this surety bond.
Bond Overview
- Purpose: To protect the state and the public from harm if a dealer violates license laws
- Who Needs It: To ensure manufactured home dealers operate according to state regulations
- Regulating Body: The Illinois Secretary of State's Dealer Licensing Section
- Required Coverage: $150,000
- Premium Rate: 2–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is an Illinois Designated Agent for Manufactured Homes Bond?
An Illinois designated agent for manufactured homes bond, or manufactured home dealer bond, holds dealers financially responsible for following all licensing requirements.
This includes collecting and remitting proper fees and taxes plus following all applicable state regulations.
How Much Do Manufactured Home Dealer Bonds Cost in Illinois?
Illinois designated agent for manufactured homes bonds cost a small percentage of the $150,000 bond amount, typically 2–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs the Bond?
The Illinois Secretary of State requires this bond as part of the licensing process for all manufactured home dealer designated agents in the state.
How Do I Get My Bond?
SuretyBonds.com provides the simplest way to get an Illinois manufactured home designated agent bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the Dealer Licensing Section as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Illinois Manufactured Home Dealer Bond Work?
As with all surety bonds, a manufactured home dealer bond creates a legal contract between three parties:
- Principal: You, the manufactured home dealer filing the bond
- Obligee: The Illinois Secretary of State's Dealer Licensing Section requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for following all provisions of the Illinois Vehicle Code as well as paying title and registration fees and taxes.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your designated agent for manufactured homes bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.