PURPOSE: The purpose of this rule is to effectuate the provisions of sections 407.1200 to 407.1227, RSMo, regarding the registration of all administrators of service contracts sold in this state.

1. (1) Each “administrator,” as that term is used in sections 407.1200 to 407.1227, RSMo, shall register with the director by completing and filing a Service Contract Administration Registration on a form provided by the director and in accordance with the instructions contained therein. Effective January 1, 2007, each administrator is required to register at the following times:

   1. (A) Before administering any “service contract,” as that term is used in sections 407.1200 to 407.1227, RSMo, unless such administration occurs in January 2007, in which case registration must occur between January 1 and February 1 of 2007; and
   2. (B) Annually thereafter between January 1 and February 1.

2. (2) Each completed and filed registration form must be accompanied by:

   1. (A) Payment of a registration fee of five hundred dollars ($500) for each provider, including the registering administrator if the administrator is also a provider, on behalf of whom the administrator is or will be administering any service contract (fee = $500 × number of providers); and
   2. (B) A completed provider exhibit, on a form provided by the director and in accordance with the instructions contained therein, for each provider, including the registering administrator if the administrator is also a provider, on behalf of whom the administrator is or will be administering any service contract. Each provider exhibit shall be accompanied by the surety bond or the guaranty in the form set forth in Appendices A and B to rule 20 CSR 200-18.020 of this chapter, if the provider’s assurance of the faithful performance of its obligations to its contract holders includes a surety bond or guaranty.
3. (3) In addition to the requirements of sections
4. (1) and (2) of this rule, each administrator shall complete and file a provider exhibit within thirty (30) days after an administrator begins to administer any service contract on behalf of any provider for whom a completed provider exhibit was not included with the administrator’s most recently filed registration.
5. (4) Copies of the Service Contract Administrator Registration and Provider Exhibit forms may be obtained from the director at: Attention: Admissions Specialist, Department of Insurance, Financial Institutions and Professional Registration, PO Box 690, Jefferson City, MO 65102.
6. (5) For purposes of this rule and rule 20 CSR 200-18.020, the term “provider” refers only to the party that is contractually obligated to provide service under a motor vehicle extended service contract. Such term does not refer to an administrator or seller of the product that is not so obligated.

AUTHORITY: section 407.1225, RSMo Supp. 2005.* Original rule filed June 26, 2006, effective Dec. 30, 2006.

*Original authority: 407.1225, RSMo 2004.