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Do Alabama Non-Dealer Designated Agents at a Financial Institution Have a Bond Requirement?

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The State of Alabama Department of Revenue, Motor Vehicle Division is responsible for the licensing of Non-Dealer Designated Agents at a Financial Institutions, manufactured home dealers (title applications and cancellations), pawnshops, out-of-state financial institutions (manufactured homes only-title applications and cancellations), law firms (manufactured homes only-title applications and cancellations), and title agents (manufactured homes only-title applications and cancellations).

The Code of Alabama 1975, Sections 32-8-34 and 32-20-22, defines the non-dealer designated agent license requirements. The following is required for licensure:

1. Completion of the online application (ETAPS) and payment of the license fee.
2. Applicants must attend the two six-hour training classes before their ETAPS account will be activated. The training class covers titling procedures and ETAPS user training.
3. Provide a copy of the business Title 5 Chapter 19 State Banking License or equivalent.
4. A $25,000 surety bond is required for the license. The bond wiil need to be uploaded as an attachment to the license application.

How Much Will This Bond Cost?

The premium that you pay for an Alabama Non-Dealer Designated Agent Financial Institution Bonds is dependent on credit.

Did You Know?

A separate application must be submitted for each branch or location.

Related Links:

Alabama Department of Revenue - Dealer License / Designated Agent
Alabama Department of Revenue - Non-Dealer Application for Designated Agent

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