Section 374.783

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 374

Effective - 28 Aug 2004   

  374.783.  Surety recovery agents, license required — director to license, powers. — 1.  No person shall hold himself or herself out as being a surety recovery agent in this state, unless such person is licensed in accordance with the provisions of sections 374.783 to 374.789.  Licensed bail bond agents and general bail bond agents may perform fugitive recovery without being licensed as a surety recovery agent.

  2.  The director shall have authority to license all surety recovery agents in this state.  The director shall have control and supervision over the licensing of such agents and the enforcement of the terms and provisions of sections 374.783 to 374.789.

  3.  The director shall have the power to:

  (1)  Set and determine the amount of the fees authorized and required pursuant to sections 374.783 to 374.789.  The fees shall be set at a level sufficient to produce revenue which shall not substantially exceed the cost and expense of administering sections 374.783 to 374.789.  However, such fees shall not exceed one hundred fifty dollars for a two-year license; and

  (2)  Determine the sufficient qualifications of applicants for a license.

  4.  The director shall license for a period of two years all surety recovery agents in this state who meet the requirements of sections 374.783 to 374.789.

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(L. 2004 S.B. 1122)