What is a Louisiana Public License Tag Agent Bond?
See why this surety bond matters and how to easily apply for one!
A public license tag agent can be a new motor vehicle dealer, an auto title company, or a municipal or parish governing authority. They are authorized to collect registration licensed taxes, issue registration certificates, and process certificate of title applications among others.
Except municipal or parish governing authorities, public license tag agents must submit a surety bond before conducting the said duties.
To ensure the timely filing of all applications, as well as all the taxes and fees collected by public license tag agents, the Vehicle Commissioner of the Louisiana Department of Public Safety and Corrections Office of Motor Vehicles requires them to submit a surety bond.
Doing otherwise will result in the filing of a claim against the surety bond for the necessary amount due. The surety bond requirement complies with Section 47:532.1 of the Louisiana Revised Statutes.
What is the Public License Tag Agent Bond?
The bond amount is $100,000.
If you have an excellent credit score, you will be eligible to pay for a low bond premium or just 1% of the bond amount!
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Public License Tag Agent Bond?
You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.
Here’s how to do get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of Louisiana
- The Louisiana Department of Public Safety and Corrections Office of Motor Vehicles should be named as the Obligee of the surety bond
- The public license tag agent is obligated to obey the provisions of Title 47 of the Louisiana Revised Statutes, as well as the rules and regulations of the Louisiana Department of Public Safety and Corrections Office of Motor Vehicles
- If the public license tag agent commits a violation, the aggrieved party will be eligible to file a claim on the surety bond
Get your bond immediately! APPLY TODAY!