Missouri Consumer Legal Funding Company Bond Guide
If you’re applying for a legal funding company license in Missouri, you’ll need this surety bond.
Bond Overview
- Purpose: To protect consumers from harm if a litigation financier breaks the law
- Who Needs It: All consumer legal funding companies in Missouri
- Regulating Body: The Missouri Commissioner of Finance
- Required Coverage: $50,000
- Premium Rate: $500–$5,000, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Missouri Consumer Legal Funding Company Bond?
A Missouri consumer legal funding company bond protects consumers from financial harm if a litigation funding company breaks state laws.
The Commissioner of Finance requires this bond as part of the licensing process for consumer legal funding companies in the state.
How Much Do Consumer Legal Funding Company Bonds Cost in Missouri?
$50,000 Missouri consumer legal funding company bonds typically cost $500–$5,000.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the simplest way to get a Missouri consumer legal funding company bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Commissioner’s office as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Missouri Consumer Legal Funding Company Bond Work?
As with all surety bonds, a consumer legal funding company bond creates a legal contract between three parties:
- Principal: You, the consumer legal funding company filing the bond
- Obligee: The Missouri Commissioner of Finance requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of MO Statutes 436.570.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your consumer legal funding company bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.