HB 553 Summary

• Creates the Missouri Home Inspectors Registration Board within the Division of Professional Registration to administer registration and licensing of home inspectors, with a five-member board consisting of three practicing home inspectors (with 5+ years experience and 1,000+ inspections) and two at-large non-inspector members

• Requires all individuals performing home inspections for compensation to be registered with the board as of January 1, 2012, with exemptions for certain licensed professionals (architects, engineers, real estate appraisers), government employees, contractors evaluating single or two-component systems, and homebuilders reviewing their own work

• Mandates registrants maintain minimum $100,000 general liability insurance coverage and $10,000 financial responsibility (via insurance, surety bond, letter of credit, or escrow account), complete 80 hours of pre-registration training or demonstrate 2+ years and 50+ prior inspections, and complete 16 hours of continuing education annually

• Establishes liability limits of $10,000 per home inspection for registered inspectors unless higher limits are disclosed in writing, with a 12-month statute of limitations for claims; prohibits liability waivers and contingent-fee arrangements

• Sets registration and renewal fees not to exceed $200 each, with civil fines up to $500 per violation for breaching standards of practice or code of ethics, and creates a Class A misdemeanor penalty for performing home inspections without registration