# Idaho Code § 49-1608: 49-1608 LICENSE BOND > Idaho · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608 ## Section - **Citation:** Idaho Code § 49-1608 - **Heading:** 49-1608 LICENSE BOND - **Jurisdiction:** Idaho - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Idaho Code / Title 49 / Chapter 16 / Section 49-1608 ## Text 49-1608. License bond. (1) Before any dealer's license shall be issued by the department to any applicant, the applicant shall procure and file with the department good and sufficient bond in the amount shown, conditioned that the applicant shall not practice any fraud, make any fraudulent representation or violate any of the provisions of this chapter, rules of the department, or the provisions of chapter 5, title 49, section 49-1418, or chapter 6, title 48, Idaho Code, or federal motor vehicle safety standards, or odometer fraud in the conduct of the business for which he is licensed. (a) A dealer exclusively in the business of motorcycle, motor-driven cycle and motorbike sales, all-terrain vehicles, utility type vehicles, truck campers and snow machine sales, ten thousand dollars ($10,000). (b) Any wholesale dealer in the business of wholesaling used vehicles of all types, forty thousand dollars ($40,000). Such wholesale dealer licensees shall be exempt from participating in the Idaho consumer asset recovery fund as provided in sections 49-1608B through 49-1608F, Idaho Code. (c) All other dealers, twenty thousand dollars ($20,000). (2) The bond required in this section may be continuous in form and the total aggregate liability on the bond shall be limited to the payment of the amounts set forth in this section. The bond shall be in the following form: (a) A corporate surety bond, by a surety licensed to do business in this state; or (b) A certificate of deposit, in a form prescribed by the director; or (c) A cash deposit with the director. (3) If a bond is canceled or otherwise becomes invalid, upon receiving notice of the cancellation or invalidity, the department shall immediately suspend the dealer's license and take possession of the license itself, all vehicle plates used in the business and all unused title applications of the licensee. The licensee is entitled to a hearing which shall be held within twenty (20) days of the suspension. Upon receiving notice that a valid bond is in force, the department shall immediately reinstate the license. (4) The bond requirements of this section shall be satisfied if the applicant is a duly licensed manufactured home dealer in accordance with chapter 21, title 44, Idaho Code, and the bond required by section 44-2103, Idaho Code, otherwise meets the requirements of this section. The amount of the bond shall be in the amount as required in this section or that required in section 44-2103, Idaho Code, whichever is greater. The applicant shall furnish a certified copy of the bond as required in section 44-2103, Idaho Code, to the department. History: [(49-1608) 49-2409, added 1978, ch. 243, sec. 5, p. 530; am. 1979, ch. 187, sec. 2, p. 548; am. 1982, ch. 95, sec. 112, p. 257; am. 1985, ch. 117, sec. 11, p. 260; am. 1987, ch. 109, sec. 1, p. 221; am. 1988, ch. 140, sec. 1, p. 253; am. and redesig. 1988, ch. 265, sec. 381, p. 766; am. 1989, ch. 310, sec. 28, p. 800; am. 1990, ch. 152, sec. 1, p. 337; am. 1991, ch. 272, sec. 10, p. 699; am. 2006, ch. 42, sec. 7, p. 129; am. 2008, ch. 106, sec. 5, p. 301; am. 2008, ch. 198, sec. 8, p. 643; am. 2015, ch. 53, sec. 1, p. 125.] ## Nearby sections - [Idaho Code § 49-1601 49-1601 UNLICENSED DEALERS AND SALESMEN PROHIBITED.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1601.md) - [Idaho Code § 49-1601A 49-1601A LEGISLATIVE FINDINGS AND INTENT.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1601A.md) - [Idaho Code § 49-1602 49-1602 ADMINISTRATION — POWERS AND DUTIES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1602.md) - [Idaho Code § 49-1603 49-1603 DEALER ADVISORY BOARD — DUTIES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1603.md) - [Idaho Code § 49-1604 49-1604 RECORDS AS EVIDENCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1604.md) - [Idaho Code § 49-1605 49-1605 CHANGE OF FRANCHISE STATUS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1605.md) - [Idaho Code § 49-1606 49-1606 CLASSES OF LICENSES — NONRESIDENT DEALERS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1606.md) - [Idaho Code § 49-1607 49-1607 FEES — FUNDS — EXPENSES — EXPIRATION OF LICENSES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1607.md) - [Idaho Code § 49-1608 49-1608 LICENSE BOND.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608.md) - [Idaho Code § 49-1608A 49-1608A DEALER AND MANUFACTURER LIABILITY INSURANCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608A.md) - [Idaho Code § 49-1608B 49-1608B IDAHO CONSUMER ASSET RECOVERY FUND ESTABLISHED — EXPENDITURES AUTHORIZED.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608B.md) - [Idaho Code § 49-1608C 49-1608C CREATION OF BOARD AND FEES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608C.md) - [Idaho Code § 49-1608D 49-1608D NEW APPLICANTS AND SUSPENSION OF FEES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608D.md) - [Idaho Code § 49-1608E 49-1608E SUBMISSION OF CLAIMS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608E.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T49_C16_S49-1608. 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