Truly Agreed, 2015


View proposed language

HCS HB 587, 2015    (Amended Section - as Truly Agreed)    

364.105. 1. No person shall engage in the business of a premium finance company in this state without first registering as a premium finance company with the director.
     2. The annual registration fee shall be [three] five hundred dollars payable to the director as of the first day of July of each year. The director may establish a biennial licensing arrangement but in no case shall the fees be payable for more than one year at a time.
     3. Registration shall be made on forms prepared by the director and shall contain the following information:
     (1) Name, business address and telephone number of the premium finance company;
     (2) Name and business address of corporate officers and directors or principals or partners;
     (3) A sworn statement by an appropriate officer, principal or partner of the premium finance company that:
     (a) The premium finance company is financially capable to engage in the business of insurance premium financing; and
     (b) If a corporation, that the corporation is authorized to transact business in this state;
     (4) If any material change occurs in the information contained in the registration form, a revised statement shall be submitted to the director accompanied by an additional fee of [one] three hundred dollars.


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