MO HB414

Requires title agencies (including title insurers engaged in direct operations) to be licensed business entity insurance producers and maintain a physical place of business in Missouri substantially devoted to title insurance business.

Requires title agents to be licensed individual insurance producers and either maintain a physical place of business in Missouri devoted to title insurance business or be employed by a licensed title insurer or agency in Missouri.

Exempts salaried employees from licensure if they do not materially perform or supervise selling, soliciting, negotiating, calculating premiums, determining insurability, handling escrows, or conducting title searches and examinations.

Requires title agencies to exclude words "insurer," "insurance company," or "underwriter" from their business name unless "agency" is also included.

Establishes that violations are level three violations under section 374.049, and existing licensees have 90 days from January 1, 2008 to comply with requirements.