Manufactured Housing Set Up Contractor ($10,000) Bond - Statewide in North Carolina
Table of Contents
Brief Summary
Set-up contractor bonds run on the license year and end June 30, so plan on a bond filing every year. We issue the $10,000 bond on the state's IDMH-5 form with a North Carolina resident agent's signature and power of attorney attached, ready to submit with your license application.
North Carolina requires each licensed manufactured home set-up contractor to furnish a $10,000 corporate surety bond, cash bond or fixed value equivalent under G.S. 143-143.12. The surety bond runs for one year, and a new bond or continuation certificate must reach the North Carolina Manufactured Housing Board at the start of each license year.
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How to Apply for a Manufactured Housing Set Up Contractor ($10,000) Bond:
- Submit the electronic set-up contractor application.
- Pay the $250 license fee and the $55 fingerprint fee for each owner.
- Name a qualifier who will pass the written exam given by Manufactured Building Division staff.
- Provide criminal history check consent forms and Social Security numbers for each owner.
- File the $10,000 bond on form IDMH-5 with the license application.
- Deliver a new bond or continuation certificate at the start of each license year.
Detailed Information About the North Carolina Manufactured Housing Set Up Contractor ($10,000) Bond:
The bond resets every license year
G.S. 143-143.12 makes a corporate surety bond a one-year instrument. A new bond or a proper continuation certificate is due to the Board at the beginning of each following year. The state form, IDMH-5 Set-Up Contractor License Bond, runs through June 30, which matches G.S. 143-143.11, where licenses expire on June 30 each year.
Amounts by license type
The statute sets a different amount for each license. A set-up contractor posts $10,000. A dealer posts $35,000 for one location plus $25,000 for each additional place of business. A manufacturer posts $2,000 for each home manufactured in the prior license year, up to $100,000. A manufactured home salesperson is not required to furnish a bond. The licensing page calls for a bond for each license.
Who the bond protects
Any buyer of a manufactured home who suffers loss or damage from a licensee's act that violates this Part may sue the licensee and the surety. The IDMH-5 form conditions the bond on the principal and its agents and employees faithfully and honestly performing their warranty obligations and duties under Article 9A of Chapter 143. The obligee is the State of North Carolina, and the surety must give the Manufactured Housing Board written notice at least 60 days before cancelling.
Getting the license
Apply electronically, pay the $250 set-up contractor license fee and a $55 fingerprint fee for each owner, and name a qualifier. The qualifier must pass a written exam given by Manufactured Building Division staff. Every applicant is subject to a criminal history check, and 11 NCAC 08 .0904 requires a consent form and Social Security number for each owner.
Eligibility and Requirements for a North Carolina Manufactured Housing Set Up Contractor ($10,000) Bond:
- Bond amount of $10,000 for each set-up contractor license.
- Corporate surety bond, cash bond or fixed value equivalent approved by the Board.
- State of North Carolina named as obligee on form IDMH-5.
- Signature of a North Carolina resident agent, with the surety's power of attorney attached.
- At least 60 days written notice to the Manufactured Housing Board before cancellation.
North Carolina Manufactured Housing Set Up Contractor ($10,000) Bond FAQs:
No. G.S. 143-143.12 makes a surety bond good for one year. A new bond or proper continuation certificate goes to the Board at the start of each license year, and the IDMH-5 form term ends June 30.
Each license type has its own bond. A dealer posts $35,000 for one location plus $25,000 per added location. A salesperson license carries no bond.
The statute allows a corporate surety bond, a cash bond or a fixed value equivalent. The Board must approve the form and terms of a cash deposit.
Any buyer of a manufactured home who suffers loss or damage from an act of the licensee that violates this Part of the General Statutes may sue the licensee and the surety.
The qualifier, an individual associated with the applicant and actively engaged in its work, takes the written exam on the applicant's behalf.
