Form PDO-102 Petroleum Surety Bond - Minnesota

What Is Form PDO-102?

This is a legal form that was released by the Minnesota Department of Revenue - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is PDO-102?A: PDO-102 is the form number for the Petroleum Surety Bond in Minnesota.

Q: What is the purpose of the Petroleum Surety Bond?A: The Petroleum Surety Bond is required by the Minnesota Department of Commerce to ensure compliance with state regulations related to petroleum products.

Q: Who needs to fill out the PDO-102 form?A: Petroleum distributors, jobbers, and retailers in Minnesota need to fill out the PDO-102 form.

Q: What information is required on the PDO-102 form?A: The PDO-102 form requires information such as the licensee's business name, identification numbers, and financial information.

Q: Is a surety bond required for all petroleum businesses in Minnesota?A: Yes, all petroleum businesses in Minnesota are required to have a surety bond.

Q: How much does the surety bond amount need to be?A: The surety bond amount is determined by the Minnesota Department of Commerce, based on the licensee's monthly average petroleum sales.

Q: What happens if I don't submit the PDO-102 form or the required surety bond?A: Failure to submit the PDO-102 form or the required surety bond can result in penalties or license revocation.

Q: Does the surety bond need to be renewed?A: Yes, the surety bond needs to be renewed annually.

Q: Can I use a different form of financial assurance instead of a surety bond?A: No, a surety bond is the required form of financial assurance for petroleum businesses in Minnesota.