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Relating to the security requirement for the issuance or renewal of a motor vehicle dealer general distinguishing number or a wholesale motor vehicle auction general distinguishing number.
No significant fiscal implication to the State is anticipated.
HB 3533 would increase from $35,000 to $50,000 the amount of a required surety bond for the issuance or renewal of a motor vehicle dealer general distinguishing number or a wholesale motor vehicle auction general distinguishing number. The bill would also require the visible posting of the surety bond notice and the procedure by which a claimant may recover against the bond.
Texas Action is neutral on HB 3533.
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