Before issuing an aircraft dealer license, the secretary shall require the applicant to file with the secretary a surety bond in the amount of twenty-five thousand dollars running to the state, and executed by a surety company authorized to do business in the state. The bond shall be approved by the attorney general as to form and conditioned that the dealer shall conduct his or her business in conformity with the provisions of this chapter, RCW 47.68.250, and 82.48.100. Any person who has suffered any loss or damage by reason of any act by a dealer which constitutes ground for refusal, suspension, or revocation of license under RCW 14.20.090 has a right of action against the aircraft dealer and the surety upon the bond. Successive recoveries against the bond shall be permitted, but the aggregate liability of the surety to all persons shall in no event exceed the amount of the bond.

NOTES:

Surety insurance: Chapter 48.28 RCW.

Terms Used In Washington Code 14.20.070

  • Aircraft: means any weight-carrying device or structure for navigation of the air, designed to be supported by the air, but which is heavier than air and is mechanically driven;
Washington Code 14.20.010
  • Dealer: means a person engaged in the business of selling, exchanging, or acting as a broker of aircraft or who offers for sale two or more aircraft within a calendar year;
    • Washington Code 14.20.010
  • Person: includes a firm, partnership, or corporation;
    • Washington Code 14.20.010
  • Secretary: means the secretary of the state department of transportation. See Washington Code 14.20.010
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