§ 385.207 — Business entity producer and individual producer licenses required — application requirements — issuance, renewal — rulemaking authority.

Missouri § 385.207

• Jurisdiction: Missouri
• Title XXIV: BUSINESS AND FINANCIAL INSTITUTIONS
• Ch. 385: Credit Insurance and Service Contracts

Text

1.  A business entity, prior to selling, offering, negotiating, or soliciting a motor vehicle extended service contract with a consumer under subdivision (6) or (7) of subsection 1 of section 385.206 , shall apply for and obtain licensure with the director as a business entity producer in accordance with this section.

2.  A business entity applying for a producer license under sections 385.200 to 385.220 shall make application to the director on an application made available by the director and shall pay an initial and renewal licensure fee in an amount to be determined by the director, but which shall not exceed one hundred dollars for a business entity.  All applications shall include the name of the business entity, the business address or addresses of the business entity, the type of ownership of the business entity and information related to section 385.209 as required by the director.  If a business entity is a partnership or unincorporated association, the application shall contain the name and address of every person or corporation having a financial interest in or owning any part of the business entity.  If the business entity is a corporation, the application shall contain the names and addresses of all officers and directors of the corporation.  If the business entity is a limited liability company, the application shall contain the names and addresses of all members and officers of the limited liability company, and a list of all persons employed by the business entity and to whom it pays any salary or commission for the sale, solicitation, negotiation, or procurement of any motor vehicle extended service contract.

3.  An individual, prior to selling, offering, negotiating, or soliciting a motor vehicle extended service contract with a consumer under subdivision (6) of subsection 1 of section 385.206 , shall apply for and obtain licensure with the director as an individual producer in accordance with this section.

4.  An individual applying for a producer license under sections 385.200 to 385.220 shall make application to the director on an application made available by the director and shall pay an initial and renewal licensure fee in an amount to be determined by the director, but which shall not exceed twenty-five dollars for an individual producer.  No examination of an applicant under this subsection shall be required.

5.  Unless licensure is refused by the director under section 385.209 , persons applying for license under this section shall be issued a producer license for a term of two years.  A producer's license shall be renewed biennially upon application for renewal and payment of the fee.  Such license shall continue in effect unless terminated under subsection 6 of this section, or refused, revoked, or suspended under section 385.209 .

6.  A producer license issued under this section, if not renewed by the director by its expiration date, shall terminate on its expiration date and shall not after that date authorize its holder under sections 385.200 to 385.220 to sell, offer, negotiate, or solicit motor vehicle extended service contracts.

7.  In connection with a business entity's application as a producer and at renewal, the business entity shall provide a list to the director of all locations in this state at which it offers motor vehicle extended service contracts.

8.  The director shall adopt rules under section 385.218 relating to licensing and practices of persons acting as a producer under this section.

Legislative History

(L. 2011 S.B. 132) Effective 1-01-12