Proposed Rule Change for Bail Bond Companies

UPDATE: 9/8/2006 -Today, the DIFP announced that they had withdrawn this proposed rule for consideration. The rule will not take effect.

Post 9/1/2006-The Missouri Department of Insurance (DIFP) has filed a proposed rule with the Missouri Secretary of State. The rule proposes that all bail bond agents, general agents, and surety recovery agents must register the name (DBA) of their companies with the department. The cost of this registration will be $25.00. The rule exempts those using their first/last names as their business name. Companies are not exempted if they allow other agents to use their first or last name as their business name. The company must register all persons authorized to transact business under the company name. Each company using a DBA prior to the enactment of this rule will have the right to first register his/her name with the department. The request to first register must be received within 30 days of the effective date of this rule. No effective date has been set at this time. The rule must first be made final before an effective date is set. Failing to comply with the registration requirement may be grounds for discipline by the DIFP.