Motor Vehicle Dealer Amendments

HB 305 increases the required bond amount for used motor vehicle dealers from $75,000 to $200,000. This change directly affects licensed used car dealers in Utah who must now secure a higher financial guarantee. The bill amends Utah Code Section 41-3-205 to reflect this bond amount increase, with no new state funding required. The measure aims to strengthen financial accountability for dealers handling vehicle transactions, though it does not alter other existing bond requirements or procedures.