Mo. Code Regs. tit. 20 § 700-6.250

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 20 CSR 700-6.250 - Assignment of Additional Assets

PURPOSE: This amendment streamlines language and updates statutory authority.

PURPOSE: This rule effectuates and aids in the interpretation of the provisions of sections 374715. and 374740., RSMo, involving the assignment of additional assets by general bail bond agents.

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

(A) The department receives information from a court or courts indicating that the general bail bond agent has accumulated seven thousand dollars ($7,000) in unsatisfied bond forfeiture judgments;

(B) The department receives notice of multiple unsatisfied bond forfeiture judgments within a thirty (30)-day period;

(C) The department receives a complaint that the general bail bond agent owes parties to a bail contract, or any persons providing funds or collateral for bail, in excess of five thousand dollars ($5,000); or

(D) The department receives information from a court or courts indicating that the general bail bond agent, acting as surety, has executed a bond or bonds exceeding their assets declared pursuant to Supreme Court Rule 33.18.

(2) In the event that the general bail bond agent receives notice from the department that the assignment of additional assets is necessary, 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 and submit to the department within twenty days the original Certificate of Deposit, an Assignment, and a completed Acknowledgement of Assignment from the financial institution issuing the Certificate of Deposit.

20 CSR 700-6.250

AUTHORITY: section 374.045, RSMo 2000 and sections 374.705, 374.715, and 374.740, RSMo Supp. 2007.* Original rule filed Sept. 14, 2004, effective March 30, 2005. Amended: Filed Nov. 30, 2007, effective July 30, 2008.

Amended by Missouri Register August 1, 2019/Volume 44, Number 15, effective 9/30/2019

*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.