SB 0127 Requires manufacturers and dealers of manufactured housing to be bonded
LR Number:S0188.01I Fiscal Note:0188-01
Committee:Insurance and Housing
Last Action:01/14/99 - Referred S Insurance & Housing Committee Journal page:S98
Effective Date:August 28, 1999
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Current Bill Summary

SB 127 - This act requires manufacturers and dealers of manufactured homes to be bonded in order to obtain or renew their certificate of registration. The amount of the bond or letter of irrevocable credit shall be $1,000 per manufactured home made or sold. The bond, however, shall not be less than $5,000 nor more than $20,000. The surety shall compensate any person who suffers a loss by any act of the manufacturer or dealer which constitutes a ground for suspension or revocation of the manufacturer's or dealer's certificate.