§ 31-23.2-12. Dealers — Bonding.
All motor vehicle dealers licensed by the state of Rhode Island shall post a bond of not less than fifteen thousand dollars ($15,000) with the Rhode Island motor vehicle dealers license commission for the purpose of indemnifying a good faith purchaser who suffers any loss occasioned by a violation of the general laws or the rules and regulations of the commission. The bond shall be renewed annually and shall continue in effect for two (2) years after any dealer goes out of business.
History of Section.P.L. 1985, ch. 392, § 3.
Structure Rhode Island General Laws
Title 31 - Motor and Other Vehicles
Chapter 31-23.2 - Tampering with Odometers
Section 31-23.2-1. - Declaration of findings and purpose.
Section 31-23.2-2. - Definitions.
Section 31-23.2-3. - Unlawful devices.
Section 31-23.2-4. - Unlawful activity.
Section 31-23.2-5. - Maintenance.
Section 31-23.2-6. - Transfer of vehicle.
Section 31-23.2-8. - Cause of action — Statute of limitations — Damages.
Section 31-23.2-9. - Other laws unaffected.
Section 31-23.2-10. - Division of motor vehicles — Odometer inspection.
Section 31-23.2-11. - Violation constituting deceptive trade practice.