Form K-158 Surety Bond - Motor Vehicle - Dealer Repairer / Limited Repairer, or Leasing / Renting Co. - Connecticut

What Is Form K-158?

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

FAQ

Q: What is Form K-158 Surety Bond?A: Form K-158 Surety Bond is a type of bond required by the state of Connecticut for motor vehicle dealers, repairers, limited repairers, or leasing/renting companies.

Q: Who needs to file Form K-158 Surety Bond?A: Motor vehicle dealers, repairers, limited repairers, or leasing/renting companies in Connecticut need to file Form K-158 Surety Bond.

Q: What is the purpose of Form K-158 Surety Bond?A: The purpose of Form K-158 Surety Bond is to provide financial protection to consumers and the state against any potential damages, expenses or losses caused by the actions of motor vehicle dealers, repairers, limited repairers, or leasing/renting companies.

Q: How much is the required bond amount for Form K-158 Surety Bond?A: The required bond amount for Form K-158 Surety Bond varies depending on the type of business and the number of vehicles being sold, leased, or repaired. The bond amount starts at $5,000.

Q: How long is Form K-158 Surety Bond valid?A: Form K-158 Surety Bond is valid for one year from the effective date.

Q: What happens if I don't file Form K-158 Surety Bond?A: Failing to file Form K-158 Surety Bond can result in penalties, fines, or even the suspension or revocation of your motor vehicle dealer, repairer, limited repairer, or leasing/renting license in Connecticut.