Mo. Code Regs. tit. 20 § 700-8.150
Current through Register Vol. 49, No. 21, November 1, 2024.
Section 20 CSR 700-8.150 - Examination RequirementsPURPOSE: This rule prescribes the examination requirements for title agents and qualified principals of title agencies.
(1) Title Agents. Before an individual may be licensed as a title agent, the applicant must first take and pass the Missouri Title Agent Examination, approved by the director, testing both the individual's knowledge regarding title services, title insurance, real estate closings, and title insurance statutes and regulations. The examination must be taken and passed prior to submitting an application for a title agent license to the department.(2) Title Agency Qualified Principals. Before a business entity may be licensed as a title agency, the applicant must designate a qualified principal who has taken and passed the Missouri Title Agency Qualified Principal Examination, approved by the director, testing the individual's knowledge regarding title services, title insurance, real estate closings, and title insurance statutes and regulations. The examination must be taken and passed by the qualified principal prior to submitting an application for a title agency license to the department.(3) Testing Service. The department contracts with an independent testing service, which administers the examinations referred to in this rule. In order to take an examination, an individual must register and pay the appropriate fee to the independent testing service designated by the director. Instructions may be obtained from the independent testing service or the department.(4) Time Limitation. Once an individual has passed an examination, the applicant has one (1) year from the date of the examination in which to submit an application for licensure to the department. If an applicant fails to submit an application for licensure to the department within this time period, the applicant must take and pass the examination again before the applicant may be licensed. AUTHORITY: section 374.045, RSMo 2000 and sections 381.042 and 381.118, RSMo Supp. 2007.* Emergency rule filed Jan. 16, 2008, effective Jan. 28, 2008, expired July 25, 2008. Original rule filed Jan. 16, 2008, effective Sept. 30, 2008. *Original authority: 374.045, RSMo 1967, amended 1993, 1995; 381.042, RSMo 2000, amended 2007; and 381.118, RSMo 2000, amended 2007.