New Hampshire Revised Statutes 261:100 – Amount of Bond Required
Current as of: 2023 | Check for updates
|
Other versions
I. Except as provided in N.H. Rev. Stat. § 261:101, each dealer shall be required to file annually, a bond in accordance with N.H. Rev. Stat. § 261:98.
| (a) | under one year | $20,000 | |
| (b) | over one year, but less than 2 years | $15,000 | |
| (c) | over 2 years | $10,000 |
II. A separate bond shall be required for each different name under which the dealer conducts his business and for each community in which the dealer has a place of business in the amounts required in N.H. Rev. Stat. § 261:100, I. Past business experience, prior to January 1, 1988, shall be taken into account in determination of the amount of the bond required.
III. Any dealer which is covered by an association bond as provided in N.H. Rev. Stat. § 261:101 shall only be covered under one name in one community. A dealer covered under N.H. Rev. Stat. § 261:101 who has a place of business in more than one community shall file a separate bond as provided in this section for each separate community in which he operates.
Terms Used In New Hampshire Revised Statutes 261:100
- Dealer: shall mean a retail vehicle dealer or an auto wholesale dealer. See New Hampshire Revised Statutes 259:18
- Place of business: shall mean the site, location or building within this state at which a person conducts the business in which he is engaged. See New Hampshire Revised Statutes 259:76