Section 19-1020. BONDS FOR MANUFACTURERS OR DEALERS

 

1020.1Prior to the issuance of a dealer’s or manufacturer’s license, each applicant shall file with the Mayor acceptable evidence of a bond or other security deemed sufficient by the Mayor for the payment of fees and taxes received.

 

1020.2The bond shall be based upon the volume of sales and the class of dealer’s or manufacturer’s license which the applicant has requested.

 

1020.3The bond shall also be for the use and benefit of the Mayor and any member of the public who suffers any loss by reason of any violation of these rules by the licensee, his or her agents or employees.

 

1020.4If a licensee under these rules fails to file acceptable evidence that the bond required by this section has been extended prior to the expiration of the bond, the license shall automatically be suspended upon expiration of the bond.

 

1020.5The license shall be reinstated when the licensee files with the Mayor acceptable evidence of a bond or other security that would be adequate under the standards described in § 1021.1.

 

 

authority

District of Columbia Boat Titling Act of 1983, effective March 14, 1984 (D.C. Law 5-58; 30 DCR 6293 (December 9, 1983)).

source

Section 2(c) of the District of Columbia Boat Titling Act of 1983, effective March 14, 1984 (D.C. Law 5-58; 30 DCR 6293 (December 9, 1983)).