325.020. Application for license, contents of--bond.

MISSOURI STATUTES AND CODES

325.020. Application for license, contents of--bond.

Application for license, contents of--bond.

325.020. 1. Any person, partnership, association orcorporation desiring to be licensed as a public adjuster orpublic adjuster solicitor shall submit an application therefor tothe director upon forms adopted by the director, and shall filecorporate surety bond in the amount of ten thousand dollars andfor each employee engaged as a public adjuster or solicitor aseparate corporate surety bond in the amount of one thousanddollars; said bonds shall be conditioned upon a satisfactoryaccounting of any funds received in settlement of losses orclaims for holders of insurance policies within the provisions ofsections 325.010 to 325.055; provided, however, that theaggregate liability of the surety for all breaches of theconditions of the bond shall, in no event, exceed the sum of suchbond. The surety on the bond shall have the right to cancel suchbond upon giving thirty days' notice to the director andthereafter shall be relieved of liability for any breach ofcondition occurring after the effective date of saidcancellation.

2. Each application shall be signed and verified under oathby the applicant, shall contain the name and address of theapplicant and the address of the place where the applicant willconduct an adjusting business, whether any adjuster's license haspreviously been issued to the applicant, the applicant'soccupation or business for the five years next preceding the dateof the application, including names and addresses of employerswithin this period, and such other information as the directormay require to enable him to determine the experience, educationand training of the applicant to engage in this type of business.

3. If the applicant is a partnership, association orcorporation, the application shall contain the above informationfor each partner, member, officer or director as may beapplicable. The license issued shall entitle only those personsnamed in the application to engage in the adjusting business.