Uniform Vehicle Dealer Surety Bond - State Of Michigan
Download a blank fillable Uniform Vehicle Dealer Surety Bond - State Of Michigan in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Uniform Vehicle Dealer Surety Bond - State Of Michigan with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Clear Form
AR-0026 (5/07)
MICHIGAN DEPARTMENT OF STATE
UNIFORM VEHICLE DEALER SURETY BOND
PLEASE READ INSTRUCTIONS ON REVERSE SIDE OF THIS SHEET BEFORE EXECUTING BOND
KNOW ALL MEN BY THESE PRESENTS, that
BOND NUMBER
Enter Bond Number Below
Enter Business Name & Address (See Item 4, Page 2)
As principal, whose place(s) of business is/are located at the address(es) set forth above, and
________________________________________________________________________________________________ as surety are
held and firmly bound unto any purchaser, seller, financing agency, or governmental agency for any monetary loss cause through fraud,
cheating or misrepresentation in the conduct of the vehicle business by the named principal in the total penal sum of Ten Thousand and
NO/100 Dollars ($10,000), lawful money of the United States of America, for which sum well and truly to be paid, said principal and
surety bind themselves, their heirs, executors, administrators, and assigns, jointly and severally and each of them.
WHEREAS, the above named principal is applying to the Secretary of State of Michigan to be licensed as a dealer in vehicles under
Section 248 of Act 300, P.A. of 1949, as amended.
AND WHEREAS, the above named principal is required by Section 248 of Act 300, P.A. of 1949, as amended, to submit properly
executed surety bond, conditioned as set forth below, with said application for vehicle dealer license.
NOW THEREFORE, the condition of this obligation is such that the principal and surety shall indemnify or reimburse any purchaser,
seller, financing agency or governmental agency for any monetary loss only after judgment based on fraud, cheating or
misrepresentation has been entered in a court record against the licensee.
The obligation under this surety bond shall be further conditioned to indemnify or reimburse the State of Michigan for any sales tax
deficiency as provided in Act 167 of the Public Acts of 1933, as amended, being Sections 205.51 to 205.78 of the complied laws of
1948, or use tax deficiency as provided in Act 94 of the Public Acts of 1937, as amended, being Sections 205.91 to 205.111 of the
compiled laws of 1948, for the year in which the bond was in force. The surety shall be required to make such indemnification or
reimbursement only after final judgment has been entered in a court of record against the licensee.
It is further understood and agreed that coverage is provided and extended without notification to the surety for any change of officers, if
the principal is a corporation; for any additional locations or changes of address within the county for which the license is issued; or for
any substitution of business name wherein ownership is not changed.
Provided further, that the aggregate liability of the surety for all such judgments shall, in no event, exceed the sum of the bond.
Coverage hereunder shall be effective as of 12:01 a.m. on _______________________________________ and shall remain in effect
continuously, provided, however, that the said surety may cancel the bond upon giving thirty days notice in writing to the Secretary of
State and thereafter shall be relieved of liability for any breach of condition occurring after the effective date of the cancellation.
Signed, sealed and dated this ______________________________ day of _____________________________, ____________.
(Important: ALL Signatures Are Required)
Signature of Witness to Principal
Signature of Dealer Principal or Authorized Agent of Principal
Print or Type Name of Witness to Principal
Print or type Name and Title of Person Signing for Principal
Signature of Witness to Attorney-in-Fact
Name of Surety Company
Print or Type Name of Witness to Attorney-in-Fact
Signature of Attorney-in-Fact
Signature of Licensed Resident Insurance Agent
Print or Type Name of Attorney-in-Fact
Print Form
Print or Type Name of Resident Insurance Agent
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal