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2012 SESSION

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HB 171 Motor Vehicle Transaction Recovery Fund; bonding requirements.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Motor Vehicle Transaction Recovery Fund; bonding requirements.  Permits the Fund to drop below the previously mandated $250,000 balance requirement but not to register a negative balance. The bill also allows the Board to await a positive balance in the Fund before paying claims so long as claims are not unpaid for more than 60 days. The bill further allows recovery against a dealer to include attorney fees.


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