Bill Text: IA SF268 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act increasing the required amount for a surety bond necessary for the issuance of a travel trailer dealer's license, and including applicability provisions. (Formerly SSB 1072.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2019-04-11 - Withdrawn. S.J. 936. [SF268 Detail]
Download: Iowa-2019-SF268-Introduced.html
Senate
File
268
-
Introduced
SENATE
FILE
268
BY
COMMITTEE
ON
JUDICIARY
(SUCCESSOR
TO
SSB
1072)
A
BILL
FOR
An
Act
increasing
the
required
amount
for
a
surety
bond
1
necessary
for
the
issuance
of
a
travel
trailer
dealer’s
2
license,
and
including
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
1225SV
(1)
88
ns/rh
S.F.
268
Section
1.
Section
322C.4,
subsection
4,
Code
2019,
is
1
amended
to
read
as
follows:
2
4.
Before
the
issuance
of
a
travel
trailer
dealer’s
3
license,
the
applicant
shall
furnish
a
surety
bond
executed
4
by
the
applicant
as
principal
and
executed
by
a
corporate
5
surety
company,
licensed
and
qualified
to
do
business
within
6
this
state,
which
bond
shall
run
to
the
state
of
Iowa,
be
in
7
the
amount
of
twenty-five
seventy-five
thousand
dollars
and
8
be
conditioned
upon
the
faithful
compliance
by
the
applicant
9
as
a
dealer
with
all
statutes
of
this
state
regulating
or
10
applicable
to
a
travel
trailer
dealer,
and
shall
indemnify
any
11
person
dealing
or
transacting
business
with
the
dealer
from
12
loss
or
damage
caused
by
the
failure
of
the
dealer
to
comply
13
with
the
provisions
of
chapter
321
and
this
chapter
,
including
14
the
furnishing
of
a
proper
and
valid
certificate
of
title
to
15
a
travel
trailer,
and
that
the
bond
shall
be
filed
with
the
16
department
prior
to
the
issuance
of
the
license.
A
person
17
licensed
under
chapter
322
,
with
the
same
name
and
location
or
18
locations,
is
not
subject
to
the
provisions
of
this
subsection
.
19
Sec.
2.
APPLICABILITY.
This
Act
applies
to
applications
for
20
a
travel
trailer
dealer’s
license
submitted
to
the
department
21
of
transportation
on
or
after
July
1,
2019.
22
EXPLANATION
23
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
24
the
explanation’s
substance
by
the
members
of
the
general
assembly.
25
This
bill
increases
the
required
amount
for
a
surety
bond
26
necessary
for
the
issuance
of
a
travel
trailer
dealer’s
license
27
by
the
department
of
transportation
(DOT)
from
$25,000
to
28
$75,000.
The
bill
applies
to
applications
for
a
travel
trailer
29
dealer’s
license
submitted
to
the
DOT
on
or
after
July
1,
2019.
30
-1-
LSB
1225SV
(1)
88
ns/rh
1/
1
