PURPOSE: This rule effectuates and aids in the interpretation of the provisions of sections 374.715 and 374.740, RSMo Supp. 2004, involving the conditions under which an assignment of additional assets to the director will be required of a general bail bond agent.

1. (1) The director may require the assignment of additional assets if:

   1. (A) The department receives notices from a court or courts that the general bail bond agent has accumulated seven thousand dollars ($7,000) in unsatisfied bond forfeiture judgments;
   2. (B) The department receives multiple notices of unsatisfied judgments within a thirty (30)-day period;
   3. (C) The department receives a complaint or complaints that the general bail bond agent owes parties to the bail contract or any persons providing funds or collateral for bail in excess of five thousand dollars ($5,000); or
   4. (D) The department receives notice from a court or courts that the general bail bond agent, acting as surety, has executed a bond or bonds exceeding the assets declared to the court or courts pursuant to the provisions of Supreme Court Rule 33.18.
2. (2) In the event that the general bail bond agent receives notice from the department that the assignment of additional assets is required, the general bail bond agent shall obtain a Certificate of Deposit in the name of the general bail bond agent for the amount requested by the department. The original Certificate of Deposit, an Assignment, and a completed Acknowledgement of Assignment from the financial institution issuing the Certificate of Deposit shall be submitted to the department within twenty (20) working days of receipt of the notice by the general bail bond agent. Acknowledgement of Assignment forms are available on the department website at www.insurance.mo.gov and at the offices of the Department of Insurance.

AUTHORITY: sections 374.045, RSMo 2000 and 374.705, 374.715 and 374.740, RSMo Supp. 2004.* Original rule filed Sept. 14, 2004, effective March 30, 2005.

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