Form Ps2446 08 PDF Details

In the intricate world of motor vehicle commerce, the Ps2446 08 form emerges as a critical document, serving as a bridge between regulatory compliance and business operations within Minnesota. Crafted by the Minnesota Department of Public Safety's Driver and Vehicle Services, this form embodies the essence of a Motor Vehicle Dealer License Surety Bond, a requisite for any entity looking to delve into the selling of motor vehicles. The bond not only represents a legal commitment to abide by the state's laws, including the conduct required of a licensee under Minnesota Statutes, section 168.27, but also serves as a safeguard, ensuring the indemnification of the State of Minnesota, and any transacting parties, against monetary losses arising from a dealer's failure to fulfill these obligations. By underpinning the principal with a surety, the document articulates the conditions under which the bond remains effective, delineating the aspects of cancellation, the roles of the principal and surety, and the acknowledgments necessary from corporate entities. This intricately designed legal instrument underscores the careful balance between protecting consumer interests and facilitating the operation of motor vehicle dealers.

QuestionAnswer
Form NameForm Ps2446 08
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesDealerSuretyBon d minnesota surety bond dvs form

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MINNESOTA DEPARTMENT OF PUBLIC SAFETY

DRIVER AND VEHICLE SERVICES

445 Minnesota Street

Saint Paul, MN 55101-5186

Phone: (651) 296-2977 Fax: (651) 297-1480

Web: dvs.dps.mn.gov Email: DVS.DealerQuestion@state.mn.us

MOTOR VEHICLE DEALER LICENSE SURETY BOND

KNOW ALL MEN BY THESE PRESENTS, That we

Bond Number:

Firm Name, Individual Name, or all Names of all Partners

 

 

Doing Business As (business name):

Check One:

Individual Owner

Partnership

Corporation

LLC

Business Address (Must be the same as dealer license application)

as principal, and

 

as surety are held and firmly bound to the State of

Minnesota to indemnify the State of Minnesota and any transferor, or seller, or purchaser of a motor vehicle for any monetary loss caused by failure of the Principal to meet the obligations imposed by the laws of this state, including the conduct required of a licensee by Minnesota Statutes, section 168.27, and the payment of all taxes, license fees, and penalties, in the amount for which payment is to be made and for which we bind ourselves, jointly and severally, our joint and several heirs, executor, administrators, successors and assigns, provided that the aggregate liability under this bond shall not exceed the amount indicated below during the term for which it is issued.

Dealer Bond in the amount of $

 

 

 

 

 

 

 

 

 

 

 

Term: From:

 

 

 

 

, 20

 

 

to

 

, 20

 

or

Continuous: From:

 

 

, 20

 

.

 

 

 

 

 

WHEREAS, the above bonded Principal desires that a motor vehicle dealer’s license be issued by the Registrar of Motor Vehicles, State of Minnesota; and

WHEREAS, this bond executed by the said Principal and Surety is filed with the Registrar in compliance with the provisions of Minnesota Statues, section 168.27, subdivision 24, to enable said Principal to obtain a license from the Registrar of Motor Vehicles under the provision of that law,

NOW, THEREFORE, the condition of this obligation is such that if the Principal shall faithfully perform the obligations imposed by the laws of this state, including taxes, license fees and penalties, then this obligation shall be null and void; otherwise it shall remain in full force and effect.

THIS BOND may be canceled at any time as to the future liability upon the Surety’s giving a least thirty (30) days written notice to the Registrar of Motor Vehicles of the State of Minnesota, in which event the Surety’s liability shall terminate at the expiration of such notice period except as to all acts covered by this bond occurring prior thereto.

IN WITNESS WHEREOF, we have duly executed the foregoing obligation

thisday of, 20 .

(SEAL)

Prinicipal (Business Name)

By:

 

 

 

 

 

(SEAL)

 

 

 

Prinicipal Must Sign

 

 

 

 

 

 

 

 

 

 

(SEAL)

 

Surety

By:

 

 

 

 

 

(SEAL)

 

 

 

 

Attorney in Fact

PS2446-08 (03/12)

 

-OVER-

ACKNOWLEDGEMENT OF PRINCIPAL

(This certificate must be attached to the Minnesota Motor Vehicle Dealer Bond)

STATE OF

COUNTY OF

Check capacity Claimed by Signer

Individual Owner

Partners

Corporate Officer - Position:

LLC - Position:

Signer Representing (Name of Business)

On

 

before me personally appeared

 

personally known to me (or

proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me all that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. FURTHER, if the principal is a corporation or a limited liability corporation, the aforesaid acknowledges that the seal affixed to the foregoing bond is the corporate seal of the corporation, and that said bond was executed in behalf of the corporation by authority of its Board of Directors.

WITNESS my hand and official seal.

Signature

 

(SEAL)

 

Notary Public

ACKNOWLEDGEMENT OF CORPORATE SURETY

(Power of Attorney MUST be attached)

STATE OF

COUNTY OF

On

 

before me personally appeared

 

personally known to me (or

 

proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within

 

instrument and acknowledged to me all that he/she is the aforesaid officer of Attorney-in-Fact of the

 

,

a corporation; that the seal affixed to the foregoing instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said corporation by the aforesaid officer, by authority of its Board of Directors; and the aforesaid officer acknowledged said instrument to be the free act and deed of said corporation.

WITNESS my hand and official seal.

Signature

 

(SEAL)

Notary Public

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Step 1: First of all, access the pdf tool by clicking the "Get Form Button" at the top of this page.

Step 2: As soon as you open the tool, you'll notice the document ready to be filled in. Apart from filling in different blank fields, you can also do other things with the form, specifically writing custom text, modifying the initial text, inserting illustrations or photos, affixing your signature to the form, and a lot more.

It will be an easy task to finish the form using out practical tutorial! Here's what you need to do:

1. The Form Ps2446 08 requires certain details to be inserted. Ensure that the next blank fields are complete:

Filling out part 1 of Form Ps2446 08

2. The subsequent stage would be to complete these particular blank fields: Term From, Continuous From, WHEREAS the above bonded Principal, WHEREAS this bond executed by the, NOW THEREFORE the condition of, THIS BOND may be canceled at any, IN WITNESS WHEREOF we have duly, this, day of, Prinicipal Business Name, SEAL, SEAL, SEAL, and Prinicipal Must Sign.

Form Ps2446 08 writing process described (stage 2)

People frequently make mistakes while completing WHEREAS this bond executed by the in this part. Remember to review whatever you enter right here.

3. The third step is usually straightforward - fill in all of the fields in This certificate must be attached, STATE OF, COUNTY OF, Check capacity Claimed by Signer, Signer Representing Name of, Individual Owner, Partners, Corporate Officer Position, LLC Position, before me personally appeared, personally known to me or, proved to me on the basis of, WITNESS my hand and official seal, Signature, and SEAL in order to complete this segment.

Filling in segment 3 in Form Ps2446 08

4. To go ahead, this next part will require filling out a couple of form blanks. Included in these are STATE OF, COUNTY OF, before me personally appeared, personally known to me or, proved to me on the basis of, a corporation that the seal, WITNESS my hand and official seal, Signature, Notary Public, and SEAL, which you'll find integral to moving forward with this particular document.

Part # 4 in submitting Form Ps2446 08

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