Effective - 01 Jan 2012
385.207. Business entity producer and individual producer licenses required — application requirements — issuance, renewal — rulemaking authority. — 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.
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(L. 2011 S.B. 132)
Effective 1-01-12
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 385 - Credit Insurance and Service Contracts
Section 385.010 - Purpose clause.
Section 385.015 - Scope of law.
Section 385.020 - Definitions.
Section 385.025 - Credit life and accident insurance, form in which it shall be issued.
Section 385.030 - Amount of insurance permitted — payments, amount of, limited.
Section 385.035 - Term of policy, prepayment of debt, effect of.
Section 385.055 - Who may issue credit life insurance.
Section 385.060 - Reporting and settlement of claims — who may adjust claims.
Section 385.075 - Regulatory powers of director.
Section 385.200 - Definitions.
Section 385.204 - Reimbursement insurance policies, requirements.
Section 385.208 - Deceptive practices.
Section 385.210 - Record-keeping requirements.
Section 385.212 - Termination, notice required.
Section 385.214 - Providers considered agents of insurer, when — indemnification and subrogation.
Section 385.216 - Investigations, administrative orders.
Section 385.218 - Rulemaking authority.
Section 385.220 - Inapplicability.
Section 385.300 - Definitions.
Section 385.302 - Registration required, fee — administrator authorized — provider requirements.
Section 385.304 - Reimbursement insurance policy requirements.
Section 385.306 - Contract requirements, contents.
Section 385.308 - Deceptive practices.
Section 385.310 - Record-keeping requirements.
Section 385.312 - Termination, notice required.
Section 385.314 - Providers considered agents of insurer, when — indemnification and subrogation.
Section 385.316 - Investigations, administrative orders.
Section 385.318 - Rulemaking authority.
Section 385.320 - Inapplicability.
Section 385.321 - Effective date for certain sections.
Section 385.400 - Citation of law.
Section 385.403 - Definitions.
Section 385.406 - Applicability, exceptions.
Section 385.409 - Registration required — records, content — fee — notice for failure to register.
Section 385.415 - Warranty reimbursement insurance policy requirements.
Section 385.418 - Warranty requirements.
Section 385.424 - Prohibited use of names and terms.
Section 385.427 - Record-keeping requirements.
Section 385.430 - Enforcement authority — administrative orders permitted.
Section 385.433 - Rulemaking authority.
Section 385.436 - Admissibility of failure to comply evidence.