The owner shown on the title record must request a certified copy of a title. If a lien holder is shown the
registered owner may secure a certified copy of the title by providing a release of lien from the lien holder.
If during that time someone claims an interest in the vehicle they can take the new owner to court and if judgement is issued
by that court the bonding company pays the judgement and the new owner must reimburse the bonding company the amount paid.
Application to obtain plates can be done later when restoration has been completed.
The value of a vehicle twenty-ﬁve or more years old is is $4,000.
The bond amount is one and a half times the value of the vehicle. The bond premium is $15 per $1000 of the bond amount. A minimum charge for any bond is $100.
Example: My vehicle’s value is $5000. My bond will be $7500 and my bond premium will be $112.50.
by the property owner and a Certificate of Authority will be issued to dispose of the vehicle to a salvage yard. The vehicle cannot be put back into operation.