PURPOSE: This rule is intended to clarify the procedure for the asset assignment requirement under sections 374.715 and 374.740, RSMo.

1. (1) The ten thousand dollar ($10,000) or twenty-five thousand dollar ($25,000) asset assignment described in sections 374.715 and 374.740, RSMo shall be held in the name of the general bail bond agent, with the state of Missouri, director of the department, as assignee. The attachments referenced in section (2) of 20 CSR 700-6.100 include the Assignment, a completed Acknowledgement of Assignment from the financial institution issuing the Certificate of Deposit, and the original Certificate of Deposit.
2. (2) Each general bail bond agent seeking license renewal shall supply an original letter from the financial institution that issued their assigned Certificate of Deposit, stating that the Certificate of Deposit is still assigned to the state of Missouri, printed on the financial institution’s letterhead, signed and dated by an official of the financial institution, and stating the Certificate of Deposit number and the general bail bond agent’s name.

AUTHORITY: sections 374.045, 374.705, 374.710, and 374.740, RSMo 2016, and section 374.715, RSMo Supp. 2018.* Original rule filed Oct. 15, 1996, effective May 30, 1997. Amended: Filed Sept. 14, 2004, effective March 30, 2005. Amended: Filed Nov. 30, 2007, effective July 30, 2008. Amended: Filed March 8, 2019, effective Sept. 30, 2019. AND INSURANCE

*Original authority: 374.045, RSMo 1967, amended 1993, 1995, 2008; 374.705, RSMo 1983, amended 1993, 2004; 374.710, RSMo 1983, amended 1995, 2004; 374.715, RSMo 1983, amended 1997, 2004, 2018; and 374.740, RSMo 1983, amended 2004.