Missouri Title Loan Lender Bond
What is a Missouri Title Loan Lender Bond?
A Title Loan Lender's Bond is a type of Missouri surety bond required by the Commissioner of Finance for the State of Missouri in the penal sum of $20,000 (Twenty Thousand Dollars) pursuant to Section 367.509 RSMo. The surety bond is written for the benefit for of the Commissioner and of anyone having a cause of action against the bonded title lender arising out of the supervised business described in Sections 367.500 - 367.533 and Sections 408.551 - 408.562 RSMo. The Title Lender's Bond is conditioned upon the bonded title lender complying the provisions of this statute, paying to the state of Missouri and to any person all money that becomes due under the provisions of the law, and applying all funds received and perform all obligations and undertakings under the statute.