Both Minnesota manufactured home dealers and subagencies are licensed and regulated by the state’s Department of Labor and Industry.
Besides meeting the varied licensing qualifications for either category, both groups must furnish evidence of supplying the right surety bond.
Our agency supplies both surety bonds, although it is likely you will only need one of the two.
Both the Minnesota manufactured home dealer bond and the subagency surety bond are $20,000 surety bonds required of licensees.
Qualifying for this surety bond will be accomplished by means of a completed and signed application. When you call our agent, we will provide the application to you, going over the relevant portions.
Once the application is complete and submitted back to our agency, it will be reviewed by an underwriter.
If you are approved, the estimated premium for either of these surety bonds is $400 annually. Upon receipt of payment, our agency can email you a copy of the surety bond. The original bond will follow by mail on the same or the following business day.
A Minnesota manufactured home dealer bond is issued with a standard term of one year. Thereafter, the bond must be renewed.
You will be provided the option of prepaying this surety bond for 2 or 3 years. While it is entirely your decision, prepayment of the premium allows you a savings over year to year premium renewal.
With a $400 annual premium, prepayment options are as follows:
For both manufactured home dealers and subagents, the purpose of this surety bond is to ensure your compliance with Minnesota Rules Chapter 1350 and any other relevant statutes.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Minnesota.
Our agency also provides surety bonds nationwide.
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