The bill amends Minnesota Statutes 2024, section 115A.902, by adding a new subdivision that establishes a surety bond requirement for tire collectors who are required to obtain a permit. Specifically, it mandates that before a permit is issued or renewed, these tire collectors must have a surety bond of at least $150,000 on file with the commissioner. This bond must be continuous until canceled by the surety, which is required to provide a 30-day written notice to both the tire collector and the commissioner before cancellation.

The surety bond is intended to protect the citizens of Minnesota and ensure compliance with relevant sections of the law and associated rules. The liability of the surety is limited to the bond amount or the damages owed, whichever is less, but the bill clarifies that this limitation does not restrict the total damages that can be recovered from the tire collector. The bond must be in a form specified by the commissioner, thereby establishing a clear regulatory framework for tire collectors in the state.

Statutes affected:
Introduction: 115A.902