NYS DMV Form MV-994. Bond Under Section 2105 (d) of the New York State Vehicle and Traffic Law

Form NYS DMV MV-994 is used by an insurance company in New York State when a surety bond is posted on behalf of a person who does not have adequate proof of ownership for a vehicle and is unable to obtain it. This form must be completed by the insurance company and signed by both the insurance company (attorney-in-fact) and the owner (principal).

The form typically collects information such as the vehicle identification number (VIN), details about the owner, information about the insurance company, and the surety bond amount. The purpose of this form is to provide a guarantee or assurance that the owner has financial coverage for any potential claims arising from the use of the vehicle.

Important fields in this form include the vehicle VIN, owner's information, insurance company details, and the surety bond amount. Accurate completion of this form ensures compliance with New York State regulations and provides evidence of financial responsibility.

Application Example: When an individual in New York State lacks adequate proof of ownership for a vehicle, an insurance company may post a surety bond on their behalf using Form NYS DMV MV-994. This form helps fulfill the legal requirements related to proof of ownership and financial responsibility.

Related Forms: Depending on the situation, additional forms may be required, such as a Vehicle Registration/Title Application (MV-82) or a Duplicate Title Application (MV-902).