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Form MV-100-LS Surety Bond Form - 100k - West Virginia
What Is Form MV-100-LS?
This is a legal form that was released by the West Virginia Department of Transportation - a government authority operating within West Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form MV-100-LS Surety Bond?
A: Form MV-100-LS is a surety bond form used in West Virginia.
Q: What is the purpose of Form MV-100-LS Surety Bond?
A: The purpose of Form MV-100-LS Surety Bond is to provide financial protection to the state of West Virginia in case a motor vehicle dealer fails to comply with certain regulations.
Q: What is the amount of the bond for Form MV-100-LS?
A: The bond amount for Form MV-100-LS is $100,000.
Q: Who needs to submit Form MV-100-LS Surety Bond?
A: Motor vehicle dealers in West Virginia are required to submit Form MV-100-LS Surety Bond.
Q: Are there any ongoing requirements related to Form MV-100-LS Surety Bond?
A: Yes, motor vehicle dealers are required to maintain the surety bond in effect for as long as they hold or maintain a valid license.
Q: What happens if a motor vehicle dealer fails to comply with the regulations covered by Form MV-100-LS Surety Bond?
A: If a motor vehicle dealer fails to comply with the regulations, the state of West Virginia may make a claim against the surety bond to seek compensation for any damages or losses.
Q: Is Form MV-100-LS Surety Bond refundable?
A: No, the bond premium paid for Form MV-100-LS Surety Bond is generally non-refundable.
Q: Can I cancel Form MV-100-LS Surety Bond?
A: Yes, you can cancel the bond by providing written notice to the insurance company and the state of West Virginia. However, the cancellation does not release the motor vehicle dealer from any liability that may have occurred during the bond period.
Q: Is there an expiration date for Form MV-100-LS Surety Bond?
A: No, Form MV-100-LS Surety Bond remains in effect until canceled or until the motor vehicle dealer's license expires or is revoked.
Form Details:
- Released on September 1, 2021;
- The latest edition provided by the West Virginia Department of Transportation;
- 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 MV-100-LS by clicking the link below or browse more documents and templates provided by the West Virginia Department of Transportation.
