Section 19-7-5.02.1.12 - Licensee Bonding and Insurance RequirementsA. After August 1, 2009, all new license applications and renewal applications for a license to act as a manufacturer, modular contractor, developer, retailer, transporter, or installer of Factory-Built homes in the State of Mississippi must provide to the State Fire Marshal's Office verification that they have obtained a general commercial liability policy and a surety bond in the following specified amounts: B. Manufacturers or Modular Contractors - provide proof of a surety bond in the amount of $25,000.00 per Licensed Facility or, for three (3) or more Licensed Facilities, a minimum bond in the amount of $50,000.00; and proof of a general commercial liability policy in the amount of $1,000,000.00 in coverage; C. Developers - provide proof of a surety bond in the amount of $25,000.00 per Facility or for three (3) or more Facilities, a minimum bond in the amount of $50,000.00; and proof of a general commercial liability policy in the amount of $1,000,000.00 in coverage; D. Retailer (with 1 or more Facilities) - provide proof of a surety bond in the amount of $25,000.00 per Facility or for three (3) or more Facilities, a minimum bond in the amount of $50,000.00; and proof of a general commercial liability policy in the amount of $1,000,000.00 in coverage; E. Retailer (any person involved in the repossession and resale with no lot facilities and performing Retailer activities as defined in Rule 5.01.2(RR)) - provide proof of a surety bond in the amount of $25,000.00 and proof of general commercial liability in the amount of $1,000,000.00 in coverage.F. Installer/Transporter - provide proof of a surety bond in the amount of $25,000.00; and proof of a general commercial liability policy for a minimum $100,000.00 in coverage. The general commercial liability policy or automobile liability policy must indicate that a cargo policy has been obtained by the licensee for the transport of Factory-Built homes. 1. Certificates of general liability policies for all manufacturers, retailer/developers and installer/transporters shall have the Mississippi State Fire Marshal's Office as the designated certificate holder. 2. A surety bond written pursuant to the requirements set forth in this section shall comply with the Surety Bond for Licensure form that will be provided to the applicant from the State Fire Marshal's Office. 19 Miss. Code. R. 7-5.02.1.12
Miss. Code Ann. §§ 75-49-1, et seq.; 75-49-9(7); 75-49-19 (Supp. 2015).