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MO SB892
Bill
AI Summary
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Increases initial training requirements for bail bond agents and general bail bond agents from 24 hours to 40 hours.
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Increases license fees for general bail bond agents from $150 to $300 every two years, and adds a $50 filing fee for quarterly financial statements.
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Requires general bail bond agents to deposit $10,000 in assets with the department for security of surety bond obligations, with up to $50,000 additional required when business circumstances warrant.
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Modifies criminal conviction disqualifications by removing the 15-year time limit and applying the felony/moral turpitude conviction bar retroactively to current licensees as of August 28, 2010.
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Increases minimum training hours for surety recovery agents from 24 to 40 hours and raises license fees from $150 to $300 for two-year licenses.
Legislative Description
Modifies provisions governing the regulation of the bail bond industry by the Department of Insurance
Last Action
Hearing Conducted S Judiciary and Civil and Criminal Jurisprudence Committee
2/22/2010