<html> <head> <title>Rule 61:24:06:02 Application for operation of dealer bond pool.</title> <META NAME="Keywords" Content="Administrative Rules 61:24:06:02"> <META NAME="Description" Content="Administrative Rules 61:24:06:02 Application for operation of dealer bond pool."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>61:24:06:02.</b><b>Application for operation of dealer bond pool.</b> Members of an incorporated automobile dealers' association establishing a pool of assets to satisfy the vehicle dealer bond requirements shall submit a written application to the department administrator. The application shall include the following:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)The name, address, and registered agent of the incorporated dealers' association;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)Copies of the organization's articles of incorporation, the last annual report, and a certificate of good standing from the secretary of state;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)The name and address of the South Dakota financial institution where the pool funds will be deposited in escrow or trust;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)An executed copy of the escrow or trust agreement and related documents; and</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)The name and license number or numbers of all participating vehicle dealers.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 17 SDR 98, effective January 15, 1991.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=32-6B-7.1">32-6B-7.1.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=32-6B-7.1">32-6B-7.1.</A></p> </div> </body> </html>