1. A. Each digital transaction provider shall execute a good and sufficient surety bond with a surety company qualified to do business in Louisiana as surety, in a sum of not less than $100,000 which bond shall name the Department of Public Safety and Corrections, Office of Motor Vehicles as obligee and shall be subject to the condition that, if such digital transaction provider shall, throughout the entire term of the bond, timely file with the office of motor vehicles all applications delivered to such digital transaction provider for filing, and all fees and taxes collected by such digital transaction provider, the obligation shall be void. If the company does not do so, the obligation of the surety shall remain in full force and effect.
2. B. Digital transaction provider must maintain the bond for the duration of its contract with the department.
3. C. Digital transaction provider must include all subcontractors under the required surety bond or require each subcontractor to obtain its own surety bond as required by R.S. 47:532.4.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:532.4.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Public Safety and Corrections, Office of Motor Vehicles, LR 50:1854 (December 2024).