Minnesota Manufactured Home Dealer Bond Guide
If you’re applying for a manufactured home dealer license in Minnesota, you’re in the right place. This guide will outline everything you need to know about the bonding process.
Bond Overview
- Purpose: To protect consumers and ensure dealers follow state laws and regulations
- Who Needs It: Limited and regular manufactured home dealers in Minnesota
- Regulating Body: The MN Department of Labor and Industry, CCLD Licensing & Certification Services
- Required Coverage: $5k for limited license, $20k for full license
- Premium Rate: Credit-based, typically 1–10% of the bond amount
What Is a Minnesota Manufactured Home Dealer Bond?
A manufactured home dealer bond holds sellers accountable for operating legally and responsibly according to Minnesota laws.
These bonds protect consumers and the state from financial harm if a dealer breaks state regulations or commits theft or fraud.
How Much Do Manufactured Home Dealer Bonds Cost in Minnesota?
A manufactured home dealer bond costs 1–10% of the bond amount, based on the personal credit score of the applicant.
For example, you could pay as low as $200 for the $20,000 bond with excellent credit. Apply for your free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Minnesota Manufactured Home Dealer Bond Work?
A manufactured housing dealer bond is a contract between three parties:
- Principal: The manufactured housing dealer
- Obligee: The MN Department of Labor and Industry, CCLD Licensing & Certification Services
- Surety: The underwriting surety provider
This creates a financial guarantee that the dealer will uphold state rules and regulations as outlined in the bond terms.
If you, as the principal, break the contract, the obligee or your clients can file claims on the bond for reimbursement. The surety will pay valid claims, but you must repay the surety in the end.
Who Needs a Manufactured Home Dealer Bond?
Any professional that sells new or used manufactured homes must hold a surety bond. The bond amount varies based on whether you hold a limited or regular dealer license.
| Limited License | Unlimited License |
|---|---|
| $5,000 bond | $20,000 bond |
| Can sell 20 homes per 2-year license period | Can sell unlimited homes |
| Can only sell used homes within the owner’s mobile home park | Can sell manufactured homes anywhere in the state |
How Do I Get a Manufactured Home Dealer Bond in Minnesota?
SuretyBonds.com makes getting bonded fast and easy for manufactured housing dealers. Just follow these quick steps:
- Apply online
- Receive a free quote
- Complete the purchase online
We’ll email your official bond form shortly after purchase. Be sure to file this along with your license renewal or initial application packet. Find more details on the licensing process below.
How Fast Can I Get My Bond?
We issue most bonds same-day when purchased before 4 PM CST. Apply to get your free quote within one business day or less.
How Do I Renew My Manufactured Home Dealer Bond?
These bonds expire every two years. However, you can extend your bond for additional two-year terms as long as you pay your renewal invoice and avoid claims.
We’ll send you renewal reminders and an invoice in advance. Simply pay your premium, and we’ll do the rest!
How to Become a Manufactured Housing Dealer in Minnesota
The Minnesota Department of Labor and Industry (DLI) oversees manufactured home dealer licensing. To apply, follow these steps:
- Register with the Secretary of State
- Complete the DLI license application form
- Submit the $180 licensing fee
- Obtain a $1,000,000 liability insurance policy
- Meet the worker’s comp insurance requirement, if applicable
- Purchase a $20,000 bond
- Submit the packet with any additional supporting documentation attached
Find more details and apply online through the DIL website. You can also mail the application to: Construction Codes and Licensing Division (CCLD), 443 Lafayette Road North, St Paul, MN 55155.
Email [email protected] or call 651-284-5034 with any specific licensing questions.
