Genesee Merchants Bank & Trust Co. v. St Paul Fire & Marine Insurance

The primary issue in this appeal concerns whether the provisions of 1966 PA 216 should be incorporated into a bond issued by defendant insurance company on December 2, 1966. The bond in question was the statutorily required bond necessary to acquire a motor vehicle dealer’s license. Defendants Perry and McVey were motor vehicle dealers doing business as Perry Mobile Homes, Inc. Perry Mobile Homes, Inc., secured from defendant insurance company a bond in the amount of $3000 in accordance with MCLA 257.248; MSA 9.1948 as it read prior to its amendment by 1966 PA 216. The bond as issued was for…