Yesterday, SB464 was passed by the Missouri House of Representatives with a vote of 129-15. The bill then was taken up by the Senate and they did not approve the changes made by the House. The bill will be taken up again by the House, who will recede or grant a conference committee on the bill changes. Both chambers will then have to approve any recommendations made by the conference committee.
The major bail bond provisions of this bill are:
1) The Lee Clause is repealed, but this version of the bill specifically details that an SIS is not considered a conviction, is not required to be disclosed, and shall not serve as a basis for denial of licensure.
2) Requires that an agent be licensed for 4 years before becoming eligible to become a general agent or the officer of a bail bond corporation.
3) Requires general agents licensed after August 28th, to assign a $50,000 CD.
4) Requires general agents to assign a $5,000 CD for each new agent licensed after August 28th. In this bill, the language has been clarified to exclude the $5,000 CD for any agent working before or on the date the bill becomes law.
Friday, May 1, 2009
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