Who requires it
Wyoming Department of Transportation — Motor Vehicle Services
License & permit · Wyoming
Wyoming Motor Vehicle Dealer Bond
Wyoming vehicle dealers and Wyoming-based manufacturers must file a twenty-five-thousand-dollar surety bond with the Department of Transportation under W.S. 31-16-103(h). The statute requires a surety licensed in Wyoming, attorney-general approval of the form, a guarantee that the dealer will return the license, manufacturer plates, full-use and demo plates, and temporary permits, and coverage if the applicant practices fraud or violates dealer-related federal or state law. Official Form MV-424 sets the same twenty-five-thousand-dollar amount. Keep the required bond coverage active and do not let it lapse. If the surety cancels, have a replacement covering the same period in place first. The name on the bond must match the Wyoming Secretary of State filing exactly—including capitalization and punctuation—or WYDOT will reject the bond.
Common bond amount
$25,000
Fixed under W.S. 31-16-103(h) for dealers and Wyoming-based manufacturers.
How you file
File Form MV-424 with the Department of Transportation
Renewal
Keep your bond active and do not let coverage lapse.
Who requires it
Applicants for Wyoming licenses to operate as a vehicle dealer or Wyoming-based manufacturer under W.S. 31-16-103 filing with WYDOT Motor Vehicle Services.
How much is required
The statute and Form MV-424 fix the amount at $25,000. There is no sales-volume dealer-bond tier under this subsection.
How to get and file it
After WYDOT confirms the application path, complete Form MV-424 for $25,000 in the exact legal name and DBA on file with the Secretary of State, state the ownership structure in the caption, show the business location address, have an authorized Wyoming surety execute the bond with matching power-of-attorney dates, and file the original with Motor Vehicle Services. Keep the required bond coverage active and do not let it lapse. If the surety cancels, have a replacement covering the same period in place first. Update naming and address details whenever the dealership’s legal identity or location changes.
Cost note
Twenty-five thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $25,000
- Term
- Keep the required coverage active and do not let it lapse.
- Naming
- Must match Wyoming Secretary of State legal name exactly
Official sources
Frequently asked questions
Does a low-volume dealer get a smaller Wyoming bond?
No. License fees under W.S. 31-16-103 vary with how many vehicles a dealer sells, but the bond amount in subsection (h) remains $25,000 for dealers and Wyoming-based manufacturers.
Can I cancel my dealer bond mid-year without a replacement?
No. Have a replacement covering the same period in place first. WYDOT does not accept cancellation unless that replacement is already on file.
Related Wyoming bond guides
Mortgage Lender / Broker Bond
$25,000–$100,000
Wyoming mortgage lenders and brokers must maintain a surety under the Residential Mortgage Practices Act, W.S. 40-23-110. The bond covers individual loan originators employed by or under contract with the licensee. Since January 1, 2010, the commissioner sets the amount by rule from the licensee’s Wyoming loan volume. Chapter 2 of the Banking rules starts new licensees at twenty-five thousand dollars until the first renewal, then steps the amount to twenty-five, fifty, or one hundred thousand dollars when prior-year Wyoming loans made or brokered are at or below three million, above three million but under ten million, or at least ten million dollars. Organizations that employ or contract with mortgage loan originators under the Wyoming Uniform Consumer Credit Code follow a parallel volume schedule in W.S. 40-14-637 and Chapter 5 rules, with the annual adjustment due before January 31. Keep the bond until the commissioner releases it in writing. If it is never released, the bond stays in force for two years after the license is surrendered, revoked, or expires. Do not use the pre-2010 statutory formula of twenty-five thousand dollars plus ten thousand dollars per licensed office—that schedule no longer governs current renewals.
Money Transmitter Bond
$10,000–$500,000
Wyoming money transmitters must furnish security under W.S. 40-22-106 with the license application or upon approval. The statute accepts a surety bond, an irrevocable letter of credit, or another similar form the commissioner finds acceptable. The required amount is ten thousand dollars or two and one-half times the outstanding payment instruments, whichever is greater, but not more than five hundred thousand dollars. The commissioner may raise the amount within that maximum when a licensee’s financial condition is impaired. The security protects people who gave the company money to transmit. The statute also allows depositing cash or certain securities with a financial institution as an alternative to the surety or letter of credit. File electronically through NMLS as the Division of Banking requires.
Collection Agency Bond
$10,000
Wyoming collection agencies must furnish ten thousand dollars of security under W.S. 33-11-108 after the Collection Agency Board approves the application. The statute accepts either a surety bond from a company licensed in Wyoming or a ten-thousand-dollar cash deposit with the state treasurer. The bond protects creditors if the agency does not turn over collection proceeds—less agreed charges. Claims go first to the board, which notifies the surety; if the surety does not pay or settle within thirty days, the claimant may sue on the bond. When a surety withdraws, or when the insurance commissioner revokes the surety’s authority, the licensee has thirty days after board notice to file a new bond or lose the right to operate. Each Wyoming office is licensed separately, and board rules require branch offices to meet full licensing requirements—so budget a ten-thousand-dollar bond for each licensed location.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Wyoming application
Wyoming will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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