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This version of the form is not currently in use and is provided for reference only. Download this version of
Form RT DS47
for the current year.
Form RT DS47 Designated Agent Bond for Illinois Vehicle Dealers - Illinois
What Is Form RT DS47?
This is a legal form that was released by the Illinois Secretary of State - a government authority operating within Illinois. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is a Designated Agent Bond?
A: A Designated Agent Bond is a specific type of surety bond required for vehicle dealers in Illinois.
Q: Who needs a Designated Agent Bond?
A: Vehicle dealers in Illinois need to obtain a Designated Agent Bond in order to conduct business.
Q: What does the Designated Agent Bond do?
A: The Designated Agent Bond provides financial protection to consumers by ensuring that vehicle dealers comply with state laws and regulations.
Q: How much is a Designated Agent Bond in Illinois?
A: The bond amount for a Designated Agent Bond in Illinois is $20,000.
Q: Do I need to renew my Designated Agent Bond?
A: Yes, Designated Agent Bonds in Illinois need to be renewed annually.
Q: What happens if I don't have a Designated Agent Bond?
A: Failure to obtain a Designated Agent Bond can result in penalties, fines, and the suspension or revocation of your vehicle dealer license.
Q: Are there any other requirements for vehicle dealers in Illinois?
A: Yes, vehicle dealers in Illinois are also required to maintain liability insurance and comply with other state laws and regulations.
Q: Can I cancel my Designated Agent Bond?
A: Yes, you can cancel your Designated Agent Bond by providing written notice to the surety bond company.
Q: Can I get a refund if I cancel my Designated Agent Bond?
A: Refund policies vary among surety bond companies, so it's best to check with your provider.
Form Details:
- Released on September 1, 2017;
- The latest edition provided by the Illinois Secretary of State;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form RT DS47 by clicking the link below or browse more documents and templates provided by the Illinois Secretary of State.
