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Kentucky bonds

Kentucky — Motor Vehicle Dealer Bond

Has Kentucky's Motor Vehicle Commission requested a bond after reviewing your dealer application? Use the amount and form it assigned, then start the Propeller application here.

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Recorded state
Kentucky
Category
Vehicles, titles & transportation

What this bond does

Security requested by the Motor Vehicle Commission following its review of the dealer application and financial statement.

Who needs it
Kentucky dealer applicants who receive a bond requirement following the Commission’s application review.
Who it protects
Use the Commission’s requested form to identify the protected parties and exact conditions; the application guidance does not define those terms.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Financial review comes first

The Commission says an applicant may be required to provide a bond up to $1 million in addition to the financial statement. It does not state that every dealer must buy the same bond.

Sources

Have these ready

  1. Complete the financial statement accurately and obtain the Commission’s actual bond request, amount and form before applying.
  2. Have the legal applicant name, requesting party and any required form available for the provider application.
  3. Compare the requested sum and effective dates with the actual option and issued document.

Questions about this bond

Must every Kentucky dealer buy the same bond?

No fixed universal amount is stated in the Commission's guidance. Following financial review, it may require a bond up to $1 million; use its actual direction for your application.

What information should I have ready?

Keep the Commission's bond request with the required amount and form, your legal dealer name and the financial statement used in the license application.

What happens after Purchase Now?

The Southern Agency's link opens Propeller in a new tab for the bond application. After issuance, submit the bond as the Commission instructs.

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