BILL NUMBER: SB 2073	CHAPTERED  09/29/02

	CHAPTER  1110
	FILED WITH SECRETARY OF STATE  SEPTEMBER 29, 2002
	APPROVED BY GOVERNOR  SEPTEMBER 29, 2002
	PASSED THE SENATE  AUGUST 31, 2002
	PASSED THE ASSEMBLY  AUGUST 30, 2002
	AMENDED IN ASSEMBLY  AUGUST 29, 2002
	AMENDED IN SENATE  MAY 24, 2002
	AMENDED IN SENATE  APRIL 9, 2002

INTRODUCED BY   Senators Johannessen and Karnette
   (Principal coauthor:  Assembly Member Florez)

                        FEBRUARY 22, 2002

   An act to add Section 11710.1 to the Vehicle Code, relating to
vehicles.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 2073, Johannessen.  Vehicle dealers:  bonds.
   Existing law requires an applicant for a vehicle dealer's license
to procure and file with the Department of Motor Vehicles a bond
executed by an admitted surety in the amount of $10,000.  An
applicant for a remanufacturer's license is required to file a bond
in the amount of $25,000.
   Senate Bill 1458 would increase the amount of the dealers's bond
and the remanufacturer's bond to $50,000, except the bond amount of
dealer who deals exclusively in motorcycles would remain at $10,000.

   This bill would provide that the bond amount of a dealer who sells
vehicles on a wholesale basis only, and who sells fewer than 25
vehicles per year, shall be $10,000.  This bill would provide that
this provision shall become operative only if both this bill and SB
1458 are enacted.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 11710.1 is added to the Vehicle Code, to read:

   11710.1.  Notwithstanding subdivision (b) of Section 11710, the
bond amount of a dealer who sells vehicles on a wholesale basis only,
and who sells fewer than 25 vehicles per year, shall be ten thousand
dollars ($10,000).
  SEC. 2.  Section 11710.1 of the Vehicle Code, as added by Section 1
of this act, shall become operative only if both this bill and
Senate Bill 1458 are enacted.