A North Carolina motor club surety bond is one of the financial assurance requirements of license applicants for this class of business. Strict compliance with the statutory licensing requirements is imperative a per the North Carolina Department of Insurance (NC DOI), "any person, firm, corporation or association conducting business, within the State of NC, in any of these areas without a license/permit shall be guilty of a Class I felony." A candidate may review the Department's helpful checklist of license application attachments for current requirements.
Per NCGS §58-69-10 (2), each principal must file with the Commissioner a North Carolina motor club bond, in favor of the state, executed by a surety company duly authorized to transact business in the amount of fifty thousand dollars ($50,000). The surety bond must be conditioned upon the full compliance by the applicant with the provisions of the statutes and administrative codes, and the regulations and orders issued by the Commissioner pursuant to his authority. The motor club bond obligation is one of good faith performance by the candidate of its contracts for motor club services. Application materials and NC motor club bond should be submitted to the Department.
North Carolina Department of Insurance
Motor Club Licensing
325 N. Salisbury Street
Raleigh NC 27603-5926
North Carolina surety bond leader, Surety One, Inc. offers motor club surety bonds in all states where they are required, to start-ups and well established operations. Contact us at (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat to discuss any surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.